Suggestions
Rick Zullo
Professional based in the United States
Rick Zullo is the Co-Founder and Managing Partner at Equal Ventures, a venture capital firm based in New York. In this role, he invests across the firm's four verticals and serves on the boards of several companies, including Threeflow, Leap, Smarthop, Ghost, Starday, David Energy, MVMNT, Odyssey Energy Solutions, and vQuip, among others.12
Before founding Equal Ventures, Rick was an investor at Lightbank, where he led investments in companies such as Riskmatch, Vettery, Neumob, Expel, and Catalytic. He also served on the boards of Snapsheet and Benchprep and made angel investments in companies like Rigup, Clearcover, and Project44.1 Rick's earlier career includes roles at Foundation Capital, Bowery Capital, and Lightview Capital, and he began his career as a strategy consultant at Deloitte Consulting.1
Rick holds an MBA with Honors from Columbia Business School and a degree in Economics and Leadership Studies from the University of Richmond.12 He is based in Brooklyn, New York, where he lives with his family.1
Highlights
Let the scoreboard do the talking
Part of why I started Equal 7 years ago was because I didnt belong anywhere else in this industry. Yes, I had a strong track record and thesis, but the opportunity of starting a fund didn’t outweigh the shame/embarrassment I felt when attempting to leg up my career elsewhere. No one else wanted me.
From having GPs who never returned a dollar ask me “do you think you can intellectually keep pace with us?” to trying to break past initial screening interviews where I would routinely get passed on by someone 10 years younger than me because i looked too old, didn’t go to the right schools, weren’t in their social circles or simply didn’t have the right “vibe”
It was clear that performance was not the limiting factor, so I set out to create my own vibe for me, the people I wanted to work with and the types of companies we wanted to work with
It’s still Day Zero here, but if you told me we would be where we are today 7 years ago, I wouldn’t have believed you - I’m proud of what we’ve built (both with Equal and the Emerging Manager Circle) and have outlast many of those who passed on me in the hundreds of VC job interviews I failed through
Earlier this week, I had an abrupt experience that rekindled a lot of these feelings. Someone that I interviewed with more than a decade ago was at the same event and we’ve stayed friendly with each other since. They are no longer in VC, but they started their career alongside a bunch of other VCs, so despite not working in the industry still come to VC events.
There were a few managers from our EMC community who I hadn’t previously met who recognized me and wanted to connect. While they asked for advice, I assured them “I have accomplished nothing more than you have. I have no advice to share other than learnings from my failures along the way.” A dozen years in this business, I’ve learned a lot more of the wrong paths, than the right ones. Things were very pleasant until one of the other managers said some complimentary remarks, which I thanked them for, but assured them that I was undeserving of.
The individual that passed on me a decade ago and was no longer in VC didn’t take kindly to someone giving me compliments…
They proceeded to bombastically call out “I’ve known Zullo longer than any of you! Back when he was BEGGING me for a job.” I shrugged it off with a muddled awkward laugh, but they continued to talk about everything from how desperate I was to get a job to my poor taste in clothes. They took it a step further and even grabbed my stomach and tried to forcibly lift up shirt while telling people, “I knew Zullo when he was FAT!”
I went home…that person stayed out and went to get more drinks with folks afterwards
This behavior really upset me, not just because of an isolated incident, but because its frequency. This shit happens ALL the time. Honestly, it’s part of the reason why I’ve tried to attend less VC events, because the majority of events have some flavor of “I knew you when you were pathetic/desperate/fat and want to remind you that no amount of success will change that”. If I’m being honest, these interactions have left me in tears more often than I would care to disclose.
I’ll survive…it’s what I do. But this pattern is destructive. Insiders and nepo hires control the pipeline of talent and ignore performance for the comfort of their own self-preservation. Even as you breakthrough and the scoreboard tilts in your favor, insiders relentlessly try to put you down to preserve the validity of their pedigrees, prestige and social circles. It isn’t fair but it isn’t going to change, so you just need to relent even harder than they do.
While they’re out getting the next round of drinks, get back to work. Go read, go research, go build something that gives you an edge. Make yourself better each day.
There will always be another asshole to remind you that you didn’t come from the same cloth, screw them
Let the scoreboard do the talking
Meanwhile, the premium from Seed to A is the lowest its been in over a decade (according to @pitchbook)
Low premium + bad graduation rate = bad returns
With the average risk:reward of seed being the worst I've seen, having a "right to win" becomes more important than ever https://t.co/2FfRUasCKm

