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In this episode, Jacob Mullins sits down with Dan Miller, Managing Director at True Search and one of the top recruiters for venture capital firms globally. Dan shares a rare inside look at how VC hiring has shifted—from boom to bust and back again—and how top firms are navigating today’s highly competitive market for investor talent, especially around seed-stage AI. He breaks down what’s changed in candidate profiles, why some GPs are winning by avoiding the consensus strategy, and how to tailor your pitch when you’re competing with firms like Sequoia, OpenAI, and Meta for the same small pool of people.

The conversation also dives into recruiting strategy and execution—from scoping roles and structuring compensation, to deciding between hiring to “sustain” versus “extend” a firm’s strategy. Dan shares actionable benchmarks for comp and carry at every level, explains why sourcing is the biggest reason operator-hires often churn, and unpacks what the best GPs get right when working with search firms. Whether you’re a solo GP about to make your first hire or leading a multi-partner platform buildout, this episode is a blueprint for hiring intelligently in a rapidly evolving talent market.

If you are a VC Managing Partner and interested in gaining access to our private podcasts please Apply for Membership. If you are already a Member please click here and make sure you are signed in.