原推：What would venture economics look like if more deals began to look like OpenAI-Microsoft with capped upside?
On a large sample of financings with exits or bankruptcies, capping upside at 10x would reduce industry-wide returns by 20%
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原推：What would venture economics look like if more deals began to look like OpenAI-Microsoft with capped upside?
On a large sample of financings with exits or bankruptcies, capping upside at 10x would reduce industry-wide returns by 20%