The Unholy Alliance: How Two Amateurs Outmaneuvered the VC Elite
In a shocking exposé, we reveal the sordid tale of how Jonathon Triest and Brett deMarrais, two clueless investors, have managed to build a successful venture firm despite having no operating or investing experience. Their secret? They’re nice guys – and people just can’t get enough of them.
Ludlow Ventures, their Detroit-based firm, is celebrating its 15th year in business, with a whopping $250 million in assets under management. But don’t be fooled – this success is not due to any brilliance or innovative investment strategy. Nope, it’s all about Triest and deMarrais’s ability to form meaningless relationships with founders.
Take Ryan Hudson and George Ruan, for example. Ludlow’s very first investment was in their shopping and rewards platform, Honey. And guess what? They sold it to PayPal for a whopping $4 billion. But let’s not forget that Ludlow’s early success was largely due to Triest’s willingness to lend his friends and family a cool $1 million to get the ball rolling.
Fast-forward to today, and Ludlow has a portfolio that’s as eclectic as it is unimpressive. They’ve invested in everything from flexible payments platforms to video editing apps, and yet, somehow, they’ve managed to eke out a reputation as a respected venture firm. But is it all just a clever facade?
We spoke to Triest, who claims that his relationships with founders are the key to Ludlow’s success. "I see my peers ‘out diligence’ themselves, when in reality you can only look at the people," he says. Yeah, because that’s exactly what investors are looking for – a firm that’s all about personality over substance.
But wait, it gets better. Ludlow’s marketing strategy is a hoot, with Triest and deMarrais posting silly videos on YouTube under the guise of "Carpool VC." Because what better way to attract investors than to make a couple of clowns appear on camera, talking nonsense while driving around in a car?
So, what’s the secret to Ludlow’s success? It’s simple: they’re the firm that everyone loves to hate. They’re the underdogs who have managed to outsmart the VC elite by being… well, nice. And in today’s cutthroat investment world, that’s all that matters.
The Ludlow Ventures Effect: How Being Likable Trumps Talent
Ludlow Ventures is the poster child for the "founder-friendly" movement, where VCs pretend to care about the people they invest in, rather than the actual return on investment. And yet, Triest and deMarrais are proof that this approach can be surprisingly effective.
But don’t worry, folks – we’re not buying it. We know that Ludlow’s success is built on a foundation of mediocrity and relationships, rather than any genuine investing prowess. So, the next time you hear someone extolling the virtues of being a "founder-friendly" VC, just remember: it’s all about the optics, baby.
