When you start a business, you’re making a bet. Not all bets are equal! Investing $100k in Business A vs Business B could have dramatically different outcomes. What’s surprising is how few entrepreneurs consider the possible range of outcomes (the upper and lower bounds).
You pick stocks based by betting on the best possible upside (adjusted for risk). I’m just saying the same rubric should be applied to business. (We have some transparency into the fundamentals of different industries. We can use that to make informed bets).
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But they’re not equivalent because if you don’t know anything about software it’s going to be even harder than normal making you less likely to succeed than normal.
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Of course *who* you are (in relation to what you choose) matters a lot. But many entrepreneurs have multiple options in front of them. Choosing the option with the best possible upside (given who you are) is the aim.
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