Marshall Sandman believes the traditional venture capital model is breaking down. For decades, venture capital depended on closed networks, where founders needed introductions and investors relied on private circles. But Sandman, the founder of Animal Capital, has spent the last 139 days posting daily videos on Instagram, explaining venture capital in direct terms. He's doing this to make information more accessible.

These videos have become a sourcing engine, with Sandman telling his podcast that 'we've already written our first check from someone that reached out cold to us'. This approach reflects a larger transformation happening across venture capital, where investors are operating like creators, using content to build trust and attract founders. They're using content to establish themselves as experts.

Sandman started posting videos for operational reasons, as he travels constantly and wanted to scale communication more efficiently. He didn't want to rely on in-person meetings all the time. By posting consistently, he created a searchable archive explaining how he evaluates startups, approaches fundraising, and thinks about venture capital. This archive is helpful for founders. It dramatically compresses the relationship-building process, with founders arriving at meetings already understanding his philosophy and investment style.

They don't have to spend as much time getting to know him.

The strategy resembles a broader trend emerging across venture capital firms, where investors like Alexis Ohanian of Seven Seven Six and Andreessen Horowitz have expanded their media operations through podcasts, YouTube, and social content. In many cases, content now functions as both marketing and infrastructure. It's helping them reach more people.

The traditional venture model still rewards access and network density, with the largest firms competing for the same founders within the same ecosystems. But Sandman believes social media creates a different kind of edge, allowing him to access founders outside traditional venture circles. He's going to Western Kentucky to visit an egg farmer who reached out to him through Instagram, demonstrating the power of content in surfacing new opportunities. This wouldn't have happened without social media.

The rise of investor content is also changing how founders evaluate venture firms. Historically, founders selected investors based on brand recognition or introductions from other founders. Social media now gives entrepreneurs a clearer understanding of how investors think before ever taking a meeting. By publishing consistently, investors effectively pre-qualify themselves to founders, communicating expertise, personality, and operating philosophy at scale. They're showing founders what they're all about.

'Now the internet is generating proprietary deal flow', Sandman said, highlighting the shift in venture capital. His argument mirrors broader changes across the industry, with Carta's State of Private Markets report showing seed-stage fundraising activity spreading outside California as investors search for differentiated opportunities and lower entry valuations. This report is significant. It shows that the industry is changing.

Sandman plans to organize his videos into categories covering fundraising, deck-building, and startup operations. His goal is to create a comprehensive resource for founders, allowing them to piece together the information they need to start a business. For years, venture capital rewarded exclusivity, but increasingly, visibility is becoming part of the competitive advantage. It's what sets investors apart.

  • Marshall Sandman has been posting daily videos on Instagram for 139 days
  • He's written his first check from someone who reached out cold through Instagram
  • Sandman travels over 100 flights per year, using content to scale communication
  • The traditional venture model still rewards access and network density
  • Social media creates a different kind of edge, allowing access to founders outside traditional venture circles

As the venture capital landscape continues to evolve, it's clear that content will play an increasingly important role. Investors like Sandman are using social media to build trust, attract founders, and generate proprietary deal flow. This shift is changing the way venture capital firms operate, making them more like creators than traditional investors. They're adapting to the new landscape.

The implications of this shift are significant, with the potential to democratize access to venture capital and create new opportunities for founders. As Sandman's story shows, the power of content can't be underestimated, and investors who adapt to this new landscape will be well-positioned for success. They won't get left behind.

In the end, it's not about beating the big firms to a deal; it's about creating a new way of doing business. Sandman's approach may not be for everyone, but it's certainly an interesting experiment. And as the venture capital industry continues to evolve, it's likely that we'll see more investors using content to build their brands and attract founders. They'll be using content to establish themselves.