Markets Tank, Stop Listening to Noise, “Private Equitification” of Venture and the New Media Universe with Eric Newcomer

In this episode, Scott sits down with journalist-turned-operator Eric Newcomer for a wide-ranging conversation about building in public, the evolution of venture capital, and what it’s really like to run a media business. Eric shares the backstory of launching Newcomer, from a solo Substack to a $2M+ revenue business with marquee events like Cerebral Valley. The two reflect on the blurred lines between media and entrepreneurship, how trust and access shape great reporting, and the surprisingly human side of building a company. Then, Scott and Eric dive deep into the state of venture capital: the private-equity-ification of mega-funds, the uncertain future for emerging managers, and why it’s getting harder to find the next generation of category-defining companies. Eric offers sharp takes on AI, fundraising hype, and what LPs really want. It’s a thoughtful, honest, and often funny look at what happens when a journalist steps behind the curtain and becomes a founder himself. What You’ll Learn: - Why Newcomer leaned into events—and how it became a real business. - The unspoken truth about founder glorification (and how hard building really is). - How venture capital is shifting—and why SaaS may have spoiled the party. - What separates good journalism from performative puff pieces. - What it feels like to lead a small team and be responsible for real livelihoods. Bonus: Invest with your eyes not your ears. Markets tank following Trump tariffs. Support the show by signing up for a free account @ Kingscrowd.com Subscribe to Eric’s newsletter and podcast: Newcomer.co Follow Eric: @ericnewcomer Follow Scott: @kitun