Josh Kopelman

Founder of First Round Capital, First Round Capital

Search every verified Josh Kopelman interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Josh Kopelman, co-founder and managing partner of First Round Capital, has been discussing the firm's approach to early-stage investing and decision-making. In a September 2025 podcast, he described the firm's focus on partnering with founders at the "imagine if" stage, helping them move from concept to execution. He emphasized that First Round Capital uses a rubric to evaluate founders, collecting data over nearly 20 years to "stress test" their thinking and improve decision quality, rather than outsourcing decisions to an algorithm. Kopelman also spoke about the importance of making implicit assumptions explicit and tracking decisions to learn from them over time. In a May 2025 interview, Kopelman discussed the venture capital industry's dynamics, noting that most venture firms are "poorly run" and that First Round Capital operates like a company with products and experiments. He argued that the "bull case" for large funds is about scale, not alpha, and that the average venture firm returns negative performance. Kopelman also commented on the AI cycle, stating it will drive scientific improvements in healthcare, energy, and education, but cautioned that many companies will simply improve productivity in existing jobs. He reiterated the firm's focus on investing in people and problems rather than specific solutions at the seed stage.