I think will be an amazing extra piece of ammunition for Promising and Very Good start-ups.
What I mean is this. At least today, in most cases, the hottest, most obvious Start-ups often do not use AngelList directly. At least, not publicly, in public syndicates, etc. Some do, and some may uses other AL vehicles. But the hottest obvious start-ups don’t put up a standard AL profile looking for $250,000 in seed funding, not really. If your raised $3m on $12m pre the week before Demo Day, you may not avail yourself of AngelList.
Most of the hottest and obvious ones get directly funded in excess. And really, these are the ones many Large VCs are chasing.
Not everything is obvious. Apparently, Uber wasn’t back in the day when anyone could invest on AngelList. Dude.
Not every Great Company is Great Yet. Some are merely Very Good, but could be Great soon. For them, funding is actually extremely complex, confusing, and hard. I think this $400m can really move the needle here. These companies can absorb much, much more capital than they can get on AL already. And in 6 months, Andreessen can mark it up 5-10x.