Rent-Shifting

Creating the trust necessary to transact was an expensive pursuit -- from banks to record labels to agents and universities -- intermediaries have spent billions asserting credibility. This has all changed. Whether it be through blockchain or reviews from other customers, consumers have shown that they’re willing to entrust what they watch, where they bank, and how they commute in hands of strangers and algorithms, who have displaced the incumbent middlemen and gained margin along the way.

Featured Companies in Our THeme

Why We're Excited About This Theme*

22M
Songs directly listed on Spotify annually
72%
Customers that will only purchase online with reviews
$132B
Annual gross payment volume processed by Square
10%
Additional sales per one-star increase in Yelp rating

Our Expertise

$30B
Total IPOs & exits we’ve invested in, led, or founded
120+
Network of CEOs, founders, and investors
99%
Signed term sheets that result in closed deals
$250M
For investments in seed, series A, and series B startups