Read on Twitter
1/ Many are trying to reconcile the "We& #39;re open for business" message from VCs with a sense that deal flow is slowing down. I know why my intent and my behavior is divergent; perhaps it applies to others also (thread)
2/ Pre covid I probably spent about a third of my time on the portfolio, a half on meeting new companies and a sixth on internal firm matters
3/ Right now i& #39;m probably half on the portfolio as there is much to do; few companies are doing better through covid than before and the portfolio has to be the first priority. Still about a sixth on internal matters.
4/ But being at home and with my kids, being a parent is taking more time during the "work day" than it used to. Preparing them food, helping (or cajoling) them on school work, etc. If you& #39;re not out of sight, you& #39;re not out of mind. That& #39;s probably another sixth
5/ So that leaves just a sixth of my time for meeting new companies, which compares to a half of my time before Covid. So my new deal volume will probably fall by a third as a result. Not because I don& #39;t want to make new investments, but because I& #39;m meeting less companies
6/ I hope that the way I spend my time normalizes as the portfolio adjusts their plans and when we all eventually go back to more normal schedules, including kids back-to-school. But that may all be a while.
7. I suspect that investors with a smaller portfolio or no kids may not be seeing the same change in the way they spend their time that I do. /fin
