continuously amazed by the failure of hedge's forays into venture. They have better data, late stage relationships, and warchests to invest across the lifecycle. Is VC culture this difficult to export? If I was a young, ambitious, smart person in venture I'd be running to one.
venture is fundamentally fucked, because they don't let the people lead. I think basically you need to give people more freedom.
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do we think this is true? seems like hedge is easier to test junior talent as if you want to spot check a strategy you either just paper trade it, or put a small amount of capital behind it and assume it scales (possiblysub) linearly. Testing junior talent in venture takes years
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my idea is you just make sure bets. if you find an elon musk or steve jobs (or I humbly suggest -- and am putting money on -- myself) you just directly back the person and let them take off from there, without friction of equity ownership maybe there's a pay it forward principle
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