The Minutes of Bill Gurley on concentration https://minutesof.com/bill-gurley/on/concentration/ Everything Bill Gurley has said on concentration: 2 verbatim quotes between December 2012 and January 2026, each with a timestamp and a link to the… en Sun, 30 Aug 2026 16:22:09 +0000 Gurley warns that widespread dependence on one player creates correction risk if they default on commitments. https://minutesof.com/q/d6f3de2f-7d6c-4c30-a225-242b012b1403/ https://minutesof.com/q/d6f3de2f-7d6c-4c30-a225-242b012b1403/ “And that is another thing that could lead to a correction if they ever have to start defaulting on some of those commitments.” — Yahoo Finance Mon, 26 Jan 2026 13:00:06 +0000 concentration Gurley cites LP analysis showing top 10 VC funds all fell out when removing their single best performer. https://minutesof.com/q/5bb74cef-13b5-4330-9ef6-8b858e3eeb32/ https://minutesof.com/q/5bb74cef-13b5-4330-9ef6-8b858e3eeb32/ “And then they took the top performer out of those funds and they all fell out of the top 10 or maybe one of them stayed.” — GigaOm Tue, 11 Dec 2012 17:56:41 +0000 concentration