E27: Compound’s Michael Dempsey on Thesis-Driven vs Founder-Driven Investing

In this episode of Turpentine VC, Michael Dempsey, Managing Partner at Compound, joins Erik Torenberg to discuss thesis-driven vs founder-driven investing, Compound’s AI thesis, company building opportunities, ways to win at venture, advice for emerging managers, and much more.

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RELATED SHOWS: 10X Capital Podcast

If you like Turpentine VC, check out our show The 10x Capital Podcast with David Weisburd, where David talks to the investors behind the investors: https://10xcapitalpodcast.com/

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X / TWITTER:

@mhdempsey (Michael)

@compoundvc (Compound)

@eriktorenberg (Erik)

@turpentinemedia

@turpentineVC

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TIMESTAMPS:

(00:00) Intro

(01:00) Thesis-Driven vs Founder-Driven Investing

(03:19) Compound's AI Thesis

(08:28) Company Building Opportunities

(11:48) Creativity is the Constraint

(14:52) More Founders or More Capital?

(18:36) Michael on Crypto

(24:01) Ways to Win at Venture

(39:25) Michael on Bio

(43:02) Michael's Family Planning Thesis

(46:28) Technical Risk

(49:14) Pre and Post Single Point of Proof Investing

(51:24) Advice for Emerging Managers

(53:04) Building a Research Organization

(57:21) Compound in 2024

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected].