On: Andreessen Horowitz Sells Some Lyft Shares to Prince Al-Waleed

[birken]

On one side of a transaction you have VCs, who have long investment horizons and are highly incentivized to maximize returns, taking a short-term profit on an investment long before it has (theoretically) reached its potential. On the other side of the transaction you have GM and a Saudi Prince.

I wonder who is the smart money...

[zekevermillion → birken]

Did AH exit completely, or are they just getting some liquidity for other early-stage investments?

[bobbygoodlatte → zekevermillion]

Typically a VC fund does not re-invest profits back into other startups — the profits are disbursed to LPs

VC funds tend to dislike small exits: they're not enough to return the fund and they can't re-invest the capital.