According to Bradley Tusk, co-founder and managing partner of Tusk Venture Partners, venture capital has been “effectively dead for the last four years.” A self-proclaimed “Fixer,” Tusk recently made the decision not to raise a fourth fund. Instead, he decided to go back to his roots and launch an equity-for-services firm aimed at helping early stage startups navigate tech policy and regulation.

Today on Equity, Rebecca Bellan sat down with Tusk to explore his pivot from traditional VC to equity-for-services, when it’s worth the risk to ask for forgiveness rather than permission, and why he’s dedicated to scaling mobile voting.

Listen to the full episode to hear more about:

• The limitations of the current VC model and its lack of liquidity.
• How Trump’s tariffs and other measures have spooked the markets. 
• Tusk’s experience advising early-stage founders on regulatory climates, including the crucial role he played in Uber’s early growth.
• Insights into his mobile voting project aimed at increasing voter turnout through secure, open-source technology.

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here.