Benchmark Part I

Benchmark Capital. We tell the tale of the legendary equal partnership that accomplished something no other venture firm can claim: twice it has produced the highest returning fund of its cycle, each time with a 100% different GP lineup. If ever there were a playbook for successful generational transfer of a generational-defining venture firm, this is it. We spend 3.5+ hours digging into how the dotcom “eBay eBoys” transformed into the rockstar Fab Four of the Uber, Instagram and Snap mobile gold rush (spoiler: not by a straight line!), and what the future holds for Benchmark’s next GP generation. If you’re a student of the venture game from any angle — founder, GP, LP, etc — this is a story you need to tune in for! 

Sponsors:

• Sentry: https://bit.ly/acquiredsentry
• WorkOS: https://bit.ly/workos25
• Anthropic: https://bit.ly/acquiredclaude25
• Statsig: https://bit.ly/acquiredstatsig26

More Acquired!

• Get email updates with hints on next episode and follow-ups from recent episodes
• Join the Slack
• Subscribe to ACQ2
• Merch Store!

© Copyright 2015-2026 ACQ, LLC

•  Benchmark’s website circa 1997
•  Benchmark’s website circa 2000
• Benchmark’s website today
•  Episode sources

Carve Outs:

• Bill Gurley’s Runnin’ Down a Dream talk
• Smartless Podcast
•  Mitch Lasky on Invest like the Best
• Ursula Le Guin’s Earthsea Cycle

‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.