Qubit: Yale Endowment Returns 2022

Yale's endowment returned 0.8% for FY 2022. But it paid out $20.6 billion to the school over 20 years. The endowment also returned 11.3% annually for the past 20 years.

Looking at chart below from last fiscal year’s report, the endowment’s market value is off by a billion.

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“Yale’s endowment earned a 0.8% investment return, net of fees, for the year ending June 30, 2022, earning $266 million in investment gains. After $1.6 billion of spending distributions to the operating budget, the endowment value decreased from $42.3 billion on June 30, 2021 to $41.4 billion on June 30, 2022.”

“Over the past decade, the university has spent $12.7 billion from the endowment. In the decade before that, total spending amounted to $7.9 billion. Over the past 10 years and 20 years, endowment distributions to the operating budget have increased at annualized rates of 4.7% and 6.9%, respectively. Fiscal 2023 spending is projected to be $1.7 billion, representing 34% of the operating budget.”

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Source:

Yale reports investment return for fiscal 2022

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Tweets and Posts:

Meghan Reynolds @MeghanKReynolds

Heard from VC LPs this week: Heading into 3Q marks, much discussion about pending write downs and how much value created in recent years will actually turn into $$ distributed to LPs. Historically, Top Quartile DPI has exceeded 2x in only a small handful of years.

Alex Iskold | 2048.vc @alexiskold

Vanity metrics are incredibly dangerous for early stage startups: - Social media following - Customers on a wait list Are examples of metrics startups should not share with investors. But the worst one is measuring TOTAL instead of RATE of GROWTH Let’s understand WHY 🧵👇

David Senra @FoundersPodcast

Steve Jobs: Build the product you want to use and carry the quality all the way through

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