Author: Paul Smalera
Editor: Fan Yang
Today, I'm sharing two articles. This article is from a vertical content creator, Paul Smalera, who has been employed by top venture capital firms as a ghost-writer. He has some unique observations about how investment institutions operate their media and content strategies, similar to the compound interest concept in finance, content also has a compounding effect. Traditionally, venture capital was a business about access (channels and relationships), now it's a business of attention (attention and influence), but in the long term, it's a business of attitude (attitude and belief), and the latter two are the secrets to how a modern media company shapes its brand and succeeds commercially.
Since a16z, a new-generation venture capital firm from Silicon Valley, quietly learned from the all-powerful Hollywood talent agency CAA, the investment industry has been increasingly turning towards sophisticated media-driven strategies, which is no longer just an option but has become the core of competition. Although the voices in the media field are becoming saturated today, unique insights and personal styles are still scarce, and new tools are beginning to mature—artificial intelligence and agents, personalized hardware devices and robotic arms, etc., making the toolbox for media creation increasingly rich. The cost and barriers of media have been lowered, so what does this mean for new-era investment companies and financial institutions? Where should they start experimenting and building?
Hope this article inspires you today.
The Next Great VC Firm Will Be Built Like a Media Company From Day One
The Next Great VC Firm Will Be Built Like a Media Company From Day One
Founders Don't Just Pick Capital—They Pick the Stories They Want to Belong To
In the past, venture capital was a business built on access.
Today, it's a business built on attention.
The top venture capital firms in the next decade won't win just because of better deal sourcing or broader networks.
They'll win because they build belief—at scale, with precision—just like a global media brand.
In short:
The next legendary VC firm will operate more like a modern media company than a traditional investment partnership.
And the firms that recognize this trend earliest will dominate the competition for founders, capital, and mindshare.
Here are the reasons for this model shift—and how it affects the content strategies of smart institutions today.
The Old Model: Whisper Networks and Reputation
The Old Model: Whisper Networks and Reputation
Traditionally, venture capital was a relationship business.
Deals were sourced through tight personal networks,
Reputation traveled through private conversations.
The firm's brand was limited to evaluations in closed-door meetings among LPs, founders, and other investors.
In that era, public content was optional. A nice-to-have. A box to check.
The New Model: Always-On Distribution and Narrative Power
The New Model: Always-On Distribution and Narrative Power
Today, founders no longer wait for private recommendations.
They search. They follow. They listen.
Before the first meeting, they already know:
How you view their industry
What kind of founders you admire
What kind of partner you'll be
Your public content is your reputation now.
It's no longer an appendage to investment work, but a core element determining deal success.
In the age of information explosion, founders choose not just capital,
But the ideas they want to bet their careers on.
What a Media-Company VC Firm Actually Looks Like
What a Media-Company VC Firm Actually Looks Like
Building an institution like a media company is far more than doing a podcast or tweeting more.
It means thinking like a newsroom about your entire platform:
1. You Develop a Sharp Editorial Perspective
You Develop a Sharp Editorial Perspective
Top media have unique perspectives, and top VCs need the same.
Not just "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:
Instead of saying "we invest in fintech", make a specific argument:
"We believe that by 2028, embedded finance will reshape the unit economics of all SaaS verticals—here's the data supporting this judgment."
2. You Build Repeatable Content Machines
You Build Repeatable Content Machines
Great media companies aren't guessing what to publish every week.
They have repeatable formats that build brand consistency.
Example:
Launch an "Insight Series" that regularly breaks down early PMF signals in core tracks—publish a deep analysis quarterly.
Founders start looking forward to your analysis like clockwork.
3. You Prioritize Storytelling Over Announcements
You Prioritize Storytelling Over Announcements
Most VC content today looks like corporate PR news releases.
But humans remember stories, not bullet points.
Example:
Investment announcements should not just have templated quotes, but tell the founder's origin story, your market insights, and the key points you see that others miss.
4. You Treat Founders Like Your Audience, Not Just Deal Flow
You Treat Founders Like Your Audience, Not Just Deal Flow
Media companies build loyalty by serving users extremely well; top VCs must also focus on founders' needs.
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. You Think in Multi-Format, Evergreen Assets
You Think in Multi-Format, Evergreen Assets
Media companies don't rely on a single channel.
The best firms will create foundational content—research, frameworks, tools—that remain valuable for years.
Example:
Instead of chasing trends, publish an industry benchmark report or tech hiring guide that founders will cite year after year.
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.
Harry Stebbings built The Twenty Minute VC into the most influential media brand in VC before starting his own fund.
Homebrew's Hunter Walk has long viewed blogging as core to firm-building, attracting founders who align with his ideas through public writing.
Tom Tunguz of Theory Ventures has spent ten years producing data-driven content, defining the entire SaaS industry's understanding of growth.
Even before establishing an institution, emerging voices like Molly O'Shea have accumulated attention and trust through a media-first personal brand.
Why This Approach Wins
Why This Approach Wins
Attention Compounds
Attention compounds
The firms investing in media-grade content today are building advantages that will only widen over time:
Project Source (In Deal Flow): Founders will proactively find you before fundraising.
LP Relationships (In LP Relationships): Differentiated narrative capabilities make fundraising more efficient.
Strategic Influence (In Strategic Influence): You not only decide who gets invested, but also define how markets are understood.
In an era where capital is commoditized, those who control the narrative control the future.
Looking Forward
Looking Forward
If you were to establish a new venture capital firm today, how would you operate like a media organization from day one?
What storytelling investments would you prioritize first?
Reply to this email - I would love to hear your thoughts, and your perspective might 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 makes great founders yearn to join.
