March 04, 2026 · 📺 CLIMB by VSC and 2 more
With the venture capital world at fingertips, 12 months ago, Bradley Tusk walked away from Fund IV — and he's got the math to explain why.
Bradley Tusk has spent 15 years at the intersection of tech and politics. He legalized Uber across the US, took equity in Lemonade, Coinbase, FanDuel, and Ro. He raised nearly $200 million across his first three funds. Then he shut down his $140M fund before its first close and decided to invert the GP/LP model entirely.
In this episode, you'll learn exactly how equity-for-services works at the structural level — things like warrants vs. common, preferre…
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