Contrarian investor Dave McClure is ready to be taken seriously

Dave McClure doesn’t like venture capitalists. “Most VCs don’t work that hard,” he says. “They think they’re great stock-pickers. They’re all full of shit.” “Gamblers,” he calls them. “Dinosaurs.” There’s only one he respects: himself.

McClure believes he has cracked the code of early-stage venture capital. Not because of his investments in billion-dollar companies such as Lyft and Twilio – for McClure, all this shows is that “I’ve gotten lucky”. Rather than focusing on a few high-value companies, the traditional measure of VC success, he is pursuing a hitherto untried strategy: investment in bulk.

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