The Bundle is the Product

People ask: why do LPs care about your fund's narrative? Don't they really only care about returns?

Or: there are dozens of VC podcasts now. Who's watching yours—the n+1 entrant?

Or: long-form articles are dead. Everyone's on Reels. Why bother?

The answer to all of these is bundling—the least understood concept in VC content marketing.

Newspapers are the canonical example. Editors knew they weren't selling to one reader—they were selling to a household. Editorial for the grandfather. Sports for the daughter. Politics for the father. One product, multiple audiences, one subscription.

The internet unbundled distribution. But I would argue the core logic still holds.

Your tweet reaches a chronically online founder between pitches. Your podcast reaches an LP on a long flight. The transcript gets quoted in an IC memo. The short clip catches a young hustly operator who'd never commit to the full episode.

Given how non-deterministic digital distribution is, you cannot pinpoint who will consume what. But you can say with confidence: your target audience will consume the bundle.

This is why format fluency matters. Not because "video is hot" or "newsletters are back." But because no single format captures everyone you need to reach.

The bundle of formats is the product.

So when someone asks why you're doing a podcast when you already have a newsletter—they're asking the wrong question. The right question: does your bundle reach everyone you need to reach?