So doesn't that mean that venture investing based only on growth instead of more profound principles is going to lose money on average?
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Corollary: "strong deal flow" in this networked age is much less about access than it is about imagination.
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@pmarca@paulbaumgart Clear growth trajectory itself has built-in risk, no? Isnt valuation a market clearing price of our beliefs? -
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@ChrisSpoke Interestingly, that means crowdfunding is best suited to later, more expensive rounds.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@pmarca@paulbaumgart said differently: vision matters for investors as well as founders.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@pmarca@paulbaumgart In that case, wouldnt competition squeeze out any value left?Thanks. Twitter will use this to make your timeline better. UndoUndo
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