Bradley Tusk says he makes more money with ‘equity-for-services’ than he did as a traditional VC

Bradley Tusk, co-founder and managing partner at Tusk Venture Partners, told TechCrunch in today’s episode of Equity that VC as we know it is dead. And it has been for the last four years. “Maybe there’s some VC that I’ve never heard of that’s awash with liquidity the last couple of years, but we haven’t returned $1 in capital to our LPs in four years,” Tusk said. VC has had a rough couple of years thanks to higher-interest rates, crashed startup valuations from 2021 highs, and stymied IPO and M&A transactions. Many investors had been holding their breath for President Donald Trump to rejuvenate the VC landscape with deregulatory measures and pro-business tax reforms. However, the uncertainty following Trump’s record-breaking executive orders, tariff-fueled trade wars, and the dismantling of federal agencies have tempered the anticipated surge in VC activity. Or as Tusk put it, “I just don’t know many serious economists that think a trade war is a good idea for anyone’s economy.” ... Read full article.