Commentary on X
@mhdempsey to put a narrow point on this: I don’t think HT is wrong- venture will require net new structured financial products. it’s just hilarious to market these while arguing against a straw man of “false markups” when you are the notoriously most untrustworthy major market participant
2:04 PM · Jul 15, 2026@mhdempsey @MartinShkreli Money has no motherland; financiers are without patriotism and without decency; their sole object is gain. -Napolean
2:57 PM · Jul 15, 2026@mhdempsey @MartinShkreli Yah I don’t get it… that’s literally how early stage VCs work and what most LPs want. I get the idea but didn’t expect it from a top 🐐
3:22 PM · Jul 15, 2026@mhdempsey i think your read is probably too kind to what is actually going on here for what its worth.
1:51 PM · Jul 15, 2026View all
i don't know him, he's probably a great person, he's made more money than me, his firm is huge and powerful, GC is very clearly impressive...so i hesitate to say this and I couldn't figure out softer words, but the past few years of watching hemant lead GC has felt like watching someone seemingly hellbent on destroying what makes tech special as an industry in an effort to accumulate power directly to his firm/himself. It’s the game I suppose and I might be a luddite or overly romantic or just wrong, but this essay left me both laughing and borderline speechless.
1:25 PM · Jul 15, 2026