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Fun(?) Fact: Most VC’s make their money off of 2% management fees and 20% carry. I haven’t reached a level yet where I can live off of the money I make in VC. So my source of income currently is actually working very early morning construction shifts around NYC.
When I get done is when the West coast is usually waking up so it works out well, then I spend the rest of the day building @gxhcapital. A micro fund’s burn rate is generally the cost of the GP’s and since it’s just me, I’ve gotten mine to be extremely low.
I live on a couch to save on rent, don’t have a car, and no car insurance. My only expenses are food, my student loans, and a couple of subscriptions like Spotify. The biggest expense and only one i cant minimize is my $946 a month @sofi student loans.
So it is definitely annoying when other VC’s tell me to just have grit and hustle and I’ll make it.
Side note: I’m only doing this because it was my only option, no VC firm would hire me so I said ok F them I’ll do it myself. But if you can go the associate route you definitely should, sleeping on a couch really sucks and I hope to not have to do it much longer.
