Today I will share two articles, this one comes from a vertically specialized content creator Paul Smalera, who is employed by some top venture capital firms as a ghost-writer ). He has some unique insights on how investment firms operate their media and content strategies, just like the concept of compound interest in finance, content also has a compounding effect. Traditionally, venture capital is a business about access (channels and relationships), now it is a business about attention (attention and influence), but in the long run, it is a business about attitude (attitudes and beliefs), and the latter two points are the secrets of how a modern media company shapes its brand and succeeds commercially.
Since the new generation of venture capital in Silicon Valley, A16Z, quietly drew lessons from the all-round entertainment agency CAA in Hollywood, the investment industry has been increasingly turning towards sophisticated media-driven strategies, which have become the core of competition rather than just an option. Although the voices in the media field are becoming more and more saturated today, unique insights and personal styles remain scarce, while new tools have begun to mature—artificial intelligence and smart agents, personalized hardware devices, robotic arms, and so on. The toolbox for media creation is becoming increasingly rich. The cost and threshold of media have been lowered, so what does this mean for investment companies and financial institutions in the new era? Where should they start experimenting and building?
I hope today's article inspires you.
The next top venture capital institution will operate in the model of a media company from the very beginning.
The Next Great VC Firm Will Be Built Like a Media Company From Day One
Founders choose not just capital - they choose the story they want to be part of.
Founders Don’t Just Pick Capital—They Pick the Stories They Want to Belong To
Author: Paul Smalera
Editor: Fan Yang
Publication Date: April 10, 2025
In the past, venture capital was a business built on access.
Today, venture capital is a business built on attention.
In the next decade, top venture capital firms will not win merely because of better project sources or broader networks.
Their success will depend on whether they can build belief—at scale, with precision—just like a media company skillfully builds a global brand.
In short:
The next legendary VC firm will operate more like a modern media company than a traditional investment partnership.
The institutions that first recognize this trend will dominate the competition for founders, capital, and mental share.
Here are the reasons for the changes in this model—and how it affects the content strategies of smart institutions today.
Old Model: Private Connections and Reputation
The Old Model: Whisper Networks and Reputation
Traditionally, venture capital is a "relationship business".
The project was sourced through tight personal networks.
Reputation traveled through private conversations.
The brand of the institution is limited to the evaluations of LPs, founders, and other investors in closed-door meetings.
In that era, public content was merely "a nice-to-have", or even just a formality (public content was optional A nice-to-have. A box to check).
New Model: 24/7 Dissemination and Narrative Power
The New Model: Always-On Distribution and Narrative Power
Nowadays, founders no longer wait for private recommendations.
They search. They follow. They listen.
Before the first meeting, they already knew:
What do you think about their industry?
What type of founders do you admire?
What kind of partner will you become?
Your public content is your reputation now.
It is no longer an accessory to investment work, but rather a core element that determines the success or failure of trading.
In an era of information explosion, the choice of founders is not just capital,
They pick the ideas they want to bet their careers on.
The Real Face of Media-oriented Venture Capital Institutions
What a Media-Company VC Firm Actually Looks Like
Build institutions like media companies, far more than just making a podcast or tweeting more.
It means thinking like a newsroom about your entire platform:
1. Distinct Editorial Perspective
You Develop a Sharp Editorial Perspective
Top media have unique viewpoints, and top venture capitalists need them as well.
It is not a vague "we invest in great founders," but a true editorial stance on how the world is changing—and why you’re betting your time and money accordingly.
Example:
Rather than saying "we invest in fintech", it is better to put forward specific arguments:
"We believe that by 2028, embedded finance will reshape the unit economics of all SaaS verticals—here is the data supporting this judgment."
2. Reusable Content Machine
You Build Repeatable Content Machines
Great media companies aren’t guessing what to publish every week.
They rely on standardized columns to establish brand consistency.
Example:
Launch the "Insight Series", which regularly dissects early signals of PMF (Product-Market Fit) in core tracks - a deep analysis will be published every quarter.
Let founders look forward to your content like they wait for a journal.
3. Narrative first, not announcements
You Prioritize Storytelling Over Announcements
Nowadays, most venture capital content resembles corporate PR press releases.
But what humans remember are stories, not bullet points（ humans remember stories, not bullet points ）。
Example:
Investment announcements should not only feature templated quotes, but should also tell the founder's origin story, your market insights, and the key points you see that others overlook.
4. View the founders as the audience, not the source of the project
You Treat Founders Like Your Audience, Not Just Deal Flow
Media companies build loyalty through exceptional service to users, and top venture capitalists should also focus on the needs of the founders.
Example:
You invest time in building sector-specific resource libraries, founder playbooks, and micro-communities—not because it’s marketing, but because it makes the right people want to work with you.
5. Create cross-format long-term assets
You Think in Multi-Format, Evergreen Assets
Media companies do not rely on a single channel.
The best firms will create foundational content—research, frameworks, tools—that remain valuable for years.
Example:
Instead of chasing hot topics, it is better to release an industry benchmark report or a technical recruitment guide that the founders refer to year after year.
Who is already practicing?
Who’s Already Doing It
The most forward-looking investors aren’t just participating in media—they’re treating it as a foundational part of firm-building（最具前瞻性的投资者不仅参与媒体——更将其视为机构建设的根基）。
Before founding his own fund, Harry Stebbings had already established The Twenty Minute VC as one of the most influential media brands in the venture capital industry.
Hunter Walk of Homebrew has long viewed blogging as a core part of building a firm, attracting like-minded founders through public writing.
Tom Tunguz of Theory Ventures has spent a decade producing data-driven content that defines the SaaS industry's understanding of growth.
Even before the agency was founded, emerging voices like Molly O'Shea had amassed attention and trust through media-first personal branding.
Why is this model destined to win?
Why This Approach Wins
Attention has a compound interest effect
Attention compounds
The firms investing in media-grade content today are building advantages that will only widen over time:
Project Source (In Deal Flow): The founder will proactively reach out to you before financing.
LP Relationships: Differentiated narrative capabilities make fundraising more efficient.
Strategic Influence: You’ll shape how entire markets are understood, not just which startups get funded.
In an era where capital is commodified, the one who controls the narrative controls the future.
Outlook
Looking Forward
If you were to establish a new venture capital firm today, how would you operate like a media outlet from day one?
What storytelling investments would you prioritize first?
Reply to this email—I would love to hear your thoughts, and your perspective may appear in the next issue.
Because in this new era, betting on the next great startup is far from enough.
You must tell a story that great founders are eager to join.
View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
The next top venture capital firm will operate more like a modern media company.
Today I will share two articles, this one comes from a vertically specialized content creator Paul Smalera, who is employed by some top venture capital firms as a ghost-writer ). He has some unique insights on how investment firms operate their media and content strategies, just like the concept of compound interest in finance, content also has a compounding effect. Traditionally, venture capital is a business about access (channels and relationships), now it is a business about attention (attention and influence), but in the long run, it is a business about attitude (attitudes and beliefs), and the latter two points are the secrets of how a modern media company shapes its brand and succeeds commercially.
Since the new generation of venture capital in Silicon Valley, A16Z, quietly drew lessons from the all-round entertainment agency CAA in Hollywood, the investment industry has been increasingly turning towards sophisticated media-driven strategies, which have become the core of competition rather than just an option. Although the voices in the media field are becoming more and more saturated today, unique insights and personal styles remain scarce, while new tools have begun to mature—artificial intelligence and smart agents, personalized hardware devices, robotic arms, and so on. The toolbox for media creation is becoming increasingly rich. The cost and threshold of media have been lowered, so what does this mean for investment companies and financial institutions in the new era? Where should they start experimenting and building?
I hope today's article inspires you.
The next top venture capital institution will operate in the model of a media company from the very beginning.
The Next Great VC Firm Will Be Built Like a Media Company From Day One
Founders choose not just capital - they choose the story they want to be part of.
Founders Don’t Just Pick Capital—They Pick the Stories They Want to Belong To
Author: Paul Smalera
Editor: Fan Yang
Publication Date: April 10, 2025
In the past, venture capital was a business built on access.
Today, venture capital is a business built on attention.
In the next decade, top venture capital firms will not win merely because of better project sources or broader networks.
Their success will depend on whether they can build belief—at scale, with precision—just like a media company skillfully builds a global brand.
In short:
The next legendary VC firm will operate more like a modern media company than a traditional investment partnership.
The institutions that first recognize this trend will dominate the competition for founders, capital, and mental share.
Here are the reasons for the changes in this model—and how it affects the content strategies of smart institutions today.
Old Model: Private Connections and Reputation
The Old Model: Whisper Networks and Reputation
Traditionally, venture capital is a "relationship business".
The project was sourced through tight personal networks.
Reputation traveled through private conversations.
The brand of the institution is limited to the evaluations of LPs, founders, and other investors in closed-door meetings.
In that era, public content was merely "a nice-to-have", or even just a formality (public content was optional A nice-to-have. A box to check).
New Model: 24/7 Dissemination and Narrative Power
The New Model: Always-On Distribution and Narrative Power
Nowadays, founders no longer wait for private recommendations.
They search. They follow. They listen.
Before the first meeting, they already knew:
What do you think about their industry?
What type of founders do you admire?
What kind of partner will you become?
Your public content is your reputation now.
It is no longer an accessory to investment work, but rather a core element that determines the success or failure of trading.
In an era of information explosion, the choice of founders is not just capital,
They pick the ideas they want to bet their careers on.
The Real Face of Media-oriented Venture Capital Institutions
What a Media-Company VC Firm Actually Looks Like
Build institutions like media companies, far more than just making a podcast or tweeting more.
It means thinking like a newsroom about your entire platform:
1. Distinct Editorial Perspective
You Develop a Sharp Editorial Perspective
Top media have unique viewpoints, and top venture capitalists need them as well.
It is not a vague "we invest in great founders," but a true editorial stance on how the world is changing—and why you’re betting your time and money accordingly.
Example:
Rather than saying "we invest in fintech", it is better to put forward specific arguments:
"We believe that by 2028, embedded finance will reshape the unit economics of all SaaS verticals—here is the data supporting this judgment."
2. Reusable Content Machine
You Build Repeatable Content Machines
Great media companies aren’t guessing what to publish every week.
They rely on standardized columns to establish brand consistency.
Example:
Launch the "Insight Series", which regularly dissects early signals of PMF (Product-Market Fit) in core tracks - a deep analysis will be published every quarter.
Let founders look forward to your content like they wait for a journal.
3. Narrative first, not announcements
You Prioritize Storytelling Over Announcements
Nowadays, most venture capital content resembles corporate PR press releases.
But what humans remember are stories, not bullet points（ humans remember stories, not bullet points ）。
Example:
Investment announcements should not only feature templated quotes, but should also tell the founder's origin story, your market insights, and the key points you see that others overlook.
4. View the founders as the audience, not the source of the project
You Treat Founders Like Your Audience, Not Just Deal Flow
Media companies build loyalty through exceptional service to users, and top venture capitalists should also focus on the needs of the founders.
Example:
You invest time in building sector-specific resource libraries, founder playbooks, and micro-communities—not because it’s marketing, but because it makes the right people want to work with you.
5. Create cross-format long-term assets
You Think in Multi-Format, Evergreen Assets
Media companies do not rely on a single channel.
The best firms will create foundational content—research, frameworks, tools—that remain valuable for years.
Example:
Instead of chasing hot topics, it is better to release an industry benchmark report or a technical recruitment guide that the founders refer to year after year.
Who is already practicing?
Who’s Already Doing It
The most forward-looking investors aren’t just participating in media—they’re treating it as a foundational part of firm-building（最具前瞻性的投资者不仅参与媒体——更将其视为机构建设的根基）。
Before founding his own fund, Harry Stebbings had already established The Twenty Minute VC as one of the most influential media brands in the venture capital industry.
Hunter Walk of Homebrew has long viewed blogging as a core part of building a firm, attracting like-minded founders through public writing.
Tom Tunguz of Theory Ventures has spent a decade producing data-driven content that defines the SaaS industry's understanding of growth.
Even before the agency was founded, emerging voices like Molly O'Shea had amassed attention and trust through media-first personal branding.
Why is this model destined to win?
Why This Approach Wins
Attention has a compound interest effect
Attention compounds
The firms investing in media-grade content today are building advantages that will only widen over time:
Project Source (In Deal Flow): The founder will proactively reach out to you before financing.
LP Relationships: Differentiated narrative capabilities make fundraising more efficient.
Strategic Influence: You’ll shape how entire markets are understood, not just which startups get funded.
In an era where capital is commodified, the one who controls the narrative controls the future.
Outlook
Looking Forward
If you were to establish a new venture capital firm today, how would you operate like a media outlet from day one?
What storytelling investments would you prioritize first?
Reply to this email—I would love to hear your thoughts, and your perspective may appear in the next issue.
Because in this new era, betting on the next great startup is far from enough.
You must tell a story that great founders are eager to join.