👉 The free FiiRE Playbook breaks down all seven entrepreneur types — from bootstrapper to funder — so you can see which game you're actually playing: https://affordanything.com/fiire Venture fund managers can collect years of fees before a single dollar comes back to investors — and the bar to hand over your money is lower than you'd think. David Bell spent 20 years as a chaired professor at Wharton before co-founding the venture firm Idea Farm Ventures, where he's backed early-stage brands like Bonobos, Warby Parker, and Jet.com. ⏱️ CHAPTERS 02:35 – How venture capital actually works, in three tiers 05:03 – The fee formula nearly every venture fund runs on 09:24 – Why fund managers get paid before they invest anything 13:13 – The surprisingly low bar to invest in risky deals 21:41 – What to ask before trusting any fund manager 24:41 – How investors make an all-or-nothing bet on one company 29:27 – The red flag hiding in an eager fund manager 32:30 – What separates a great fund manager from a mediocre one 39:04 – How outside money quietly changes what a founder optimizes for 46:41 – Why kids today may never remember life before AI __________ ❓GOT A QUESTION? WE’D LOVE TO HEAR IT https://affordanything.com/voicemail __________ 🎧 NEVER MISS AN EPISODE Apple Podcasts: affordanything.com/applepodcasts Spotify: affordanything.com/spotify __________ 🤗JOIN OUR PRIVATE COMMUNITY: affordanything.com/community 🤗STAY IN THE LOOP: affordanything.com/newsletter __________ 🛠 TOOLS AND RESOURCES: David Bell's website 👉 https://www.davidbell.co/ Lost and Founder by Rand Fishkin 👉 https://www.penguinrandomhouse.com/books/547217/lost-and-founder-by-rand-fishkin/ __________ 👀 WATCH THIS VIDEO NEXT: Codie Sanchez: The Millionaire Formula They Don't Teach in Business School — https://www.youtube.com/watch?v=qbNEP41CW5s __________ 👋 SAY HI ON SOCIAL: Facebook: facebook.com/affordanything Instagram: instagram.com/paulapant X: x.com/affordanything #VentureCapital #StartupFunding #Entrepreneurship #Investing https://youtu.be/RVc2DiZUDXw