Who is the best future undiscovered VC in the world? DM me if you want to keep it between us :)
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I especially like the notion of prediction markets that could record a person's investment "picks" even if they weren't managing money, so a track record could be created that would help raise future funds.
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That won’t work. For the same reason that nobody who plays poker for real can play in non wager games. Or read Taleb Skin in the Game.
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Keith, I think what Mike is proposing is the equivalent of betting on synthetic derivatives that represent startup momentum: if you could see that someone wagered 50% of their NW (meaningful), building up a track record, would it matter?
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Need to actually lose money or face severe downside consequences to be a useful technique.
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Was thinking that you could put smaller amounts of money at risk (but meaningful if you are just getting started) in ways that would create lower barriers to proving a track record....which would enable escalation of the AUM gradually rather than current barriers to entry.
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Yes so long as there is real meaningful loss it could work, although also need to simulate time constraints which were the the number 1 cause of mistakes for me as an angel.
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No need at all to have real meaningful loss. Someone that is smart enough with critical thinking skills does not need the loss of money to prove they made a bad decision. They internalize it and learn from it.
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1000 times no :) Skin in the game can't be theoretical.
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