Abdiel shutting down?
Word on the street is that they're shutting down. Anyone have info? Crushed by concentrated SaaS implosion?
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Am I having deja vu? I thought they already did like a year ago or something. I guess I must be thinking of someone else.
Every year or two they would send around an updated PDF at a couple of schools introducing Abdiel, and our investment club would send it around. For the first couple years the AUM kept going up, and their cumulative returns were in the 000s of %. Then, one year, I noticed it dropped by a billion. Then, the next year, another billion, and so forth until today. Believe it or not, you can be too smart for your own good, and humility is equally as important as the sheer intelligence that Colin, Duncan and the rest of their crew seem to solve for. That being said, even though my personal experience interviewing was not the greatest, I wish them the best of luck and do think they mean well.
I will also add that going massively long a paper-cutting craft company in 2021 as a SaaS / subscription play is kind of funny in hindsight.
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