xmot7

MS Teams is pretty terrible, probably worse than SharePoint for me.

But faster price discovery doesn't actually do anything. Outside of other HFT firms, efficient pricing only matters for large events that happen on a macro timescale - share issuance, buybacks, dividends, etc.

Unless one of those macro events occurs, knowing whether a stock is worth $10 or $11 doesn't actually matter - there's no efficiency gained or resources allocated based on that difference.

Resources aren't allocated on a nanosecond timeframe, no matter how fast your trades are. Actual resource allocation happens on a weeks to months timeframe.

For industry wide statistics, something like https://www.cambridgeassociates.com/wp-content/uploads/2018/... is pretty good. All returns there are gross, not net, but they show top quartile funds returning 15-20% gross over the last decade, varying a bit year to year.

For specific fund performance, I don't know of anything public. Most of the big names have had some funds with >20% returns, usually as they get bigger those get harder to maintain.

The return profile depends a lot on the stage of VC you're at - while a 100x return might be plausible for an early angel investor (who also expects 90% of their investments to go to zero), lots of later stage VC's will be quite happy with the more consistent 5x outcome.

It's a very aspirational target. 25% annualized return (after fees) is a top decile fund. I've heard that number as a target before, but rarely and from investors that weren't used to the market. 12-15% from public markets is a top quartile hedge fund, still a great return but a little less aggressive than the VC number.