How is there any alpha left when investing in startups with a clear growth trajectory? Wouldn't the valuations rise to drive alpha to zero?
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Replying to @paulbaumgart
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.
2:24 PM - 31 Oct 2014
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