Between 2008-2016, Founders Fund's hit rate was extraordinary:

• Credit Karma: $500K → $129M (252x)

• Stripe: $601M invested, now worth $4B+

• Airbnb: $150M → $3.75B (25x)

• Stemcentrx: $300M → $1.1B (3.5x)

• Spotify: $27M → $239M (9x)

• DeepMind: £1.4M → acquired for £400M

How did they do it? Our investigation reveals the unsung heroes behind these wins—including Napoleon Ta, the quantitative genius who guided the firm's massive late-stage bet on Airbnb.