If I ever write my DIALECTIC OF ENLIGHTENMENT, BUT FOR SILICON VALLEY I think I'll find that a lot of the unreason of tech industry rationalism comes from how VC demands scale. Editing this piece by @kimmaicutler @logic_magazine taught me so much about it.https://logicmag.io/04-the-unicorn-hunters/ …
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Replying to @kimmaicutler @logic_magazine
Prolly too hard to summarize in this medium. But the way that a risk management model of financing > needing everything to potentially succeed huge > enthusiasm for wild ideas (WHAT IF WE REPLACED TAP WATER?!) is at the core. Also your point about timing--Webvan v Instacart.
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Replying to @moiragweigel @logic_magazine
One thing that irks me about media coverage of venture is the way that critics sometimes extrapolate the decisions of one firm to represent the entire industry, without realizing that the field is based on long odds... for every yes, there are usually dozens of nos.
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Replying to @kimmaicutler @logic_magazine
Makes sense. I think what I'm trying to say is, I'm interested in the habits of mind that a system oriented toward long odds produces.
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yes, that's totally why people in the industry say crazy shit that makes no sense to normal human beings all the time. Because their success is not really structured on being right most of the time. They just have to be *really really* right a very small % of the time.
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