Welcome to my Substack, Blind Spots by Leslie Feinzaig

Dear friends,

I’ve had some version of this post in draft form for weeks. I’d start writing, then some new shocking thing would take over the news cycle. 2025 has thrown a LOT our way and I’m already in danger of growing numb. So I decided: I can’t write a blog about my worry of the day. Not because I don’t care—I care deeply. But because ranting, while cathartic, is not going to get me very far. And I’m not sure that my rants are worthy of your time and attention. So I’m going to do something else instead.

But first, I’d be remiss if I didn’t acknowledge the movement that gave birth to this substack - one of the most impactful experiences of my life.

Last summer, a group of venture capitalists stood up to our industry’s growing groupthink and said, you know what? There IS a limit to how much some of us willing to overlook in the pursuit of money, power and personal benefit. In our investments and in our votes. Election results aside, the impact of this pledge was so powerful that I still get emails from founders asking whether a particular VC that they are pitching to was on the list, and others who want the full list to pitch to.

In my life and career, and most especially that week last summer, I’ve learned the phenomenal power that comes from seeing what others can’t and naming what others won’t. So instead of focusing on what those in power are throwing our way, I want to place my attention on what they are missing.

Introducing: Blindspots.

You have them. I have them. Entrepreneurs have them. VCs have them. Closed groups of people have them - it’s the dark side of groupthink. And the more homogenous the group, the more they share the same blindspots. Turns out, those same neural shortcuts that make our brains more efficient (see: Blink, Thinking Fast and Slow, new analyst training day at McKinsey, etc), also make us miss things.

Other people’s blindspots are also massive opportunities. I learned this early in my career when I worked with Clay Christensen, who taught me (and a whole generation of business leaders) to look where others don’t. Disruptive innovation - incidentally, the most misused term in venture capital - is not about making better tech. It’s the strategy of focusing on the people and places that the most powerful incumbents overlook.

The last couple of years have seen a dramatic consolidation of dollars and power in tech and venture capital. And in the last couple of months, a subset of those have become deeply enmeshed in government, thereby amassing even more power. I don’t know how long this alliance will last, or how any of this will play out. But I’m positive they have blindspots. I think we should talk about what those are.

So join me in a conversation about venture capital, entrepreneurship, culture, American dynamism, existential angst, and whatever else feels important in the moment. Be warned in advance: sometimes #momlife seeps out into my writing. I won’t follow a rigid schedule—every few weeks, maybe once a month. More often if we’re winning at bedtime (you were warned). This space will evolve as we go, just like the conversations I hope we’ll have here. I trust you’ll be here when there’s something worth sharing. It’s hard out there. No need to face it alone.

Until next time,

Leslie

What’s on my browser this week.

I’m hiring a Chief of Staff! Know someone amazing? Send them over.

The tragic fires in LA are out of the news cycle, but not out of my mind. I donated to this fundraiser led by the local tech community and invite you to do the same. #LongLA

I’m obsessed with Severance. Talk to me about your theories. (Warning: reddit’s full of spoilers if you’re not up to date).

Another obsession: Paynter Jacket Co’s business model (and also, their jackets).

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