Venture Lab
Why can one startup return an entire fund?
Explore the hidden mathematics behind venture capital through simulations, interactive experiments, and visual stories.
65%
of startups fail outright
1 in 100
become breakout winners
120x
typical fund-returning multiple
10,000
simulations in Monte Carlo Lab
Six ways to see the math
Each module is a self-contained experiment. Play with the controls, watch the outcomes, and read the plain-English explanation of what just happened.
Module 1
The Startup Lottery
Watch 100 startups play out. Most fade. One might return the whole fund.
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Module 2
Build a Fund
Set check size, reserves, and count. Feel the tradeoff between conviction and diversification.
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Module 3
Monte Carlo Lab
Run 10,000 funds at once and see the full distribution of possible futures.
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Module 4
Dilution Simulator
Raise five rounds. Watch founder ownership shrink — and the pie grow.
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Module 5
Follow-On Decision Engine
A portfolio company is taking off. Do you write a bigger check?
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Module 6
Exit Waterfall
A startup exits. See exactly who gets paid, and in what order.
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Mini Game
Can You Beat Sequoia?
Review real historical seed deals — Airbnb, Uber, Stripe, Canva — and decide: invest or pass. See how your instincts stack up.