I used to think as an entrepreneur everything I’d got I’d earned. More recently I’ve realized there was a huge amount of infrastructure set up for me to make it (educated workforce, execs, the internet) and I really controlled a much smaller % of the outcome than I’d thought.
-
-
How do you define "promising" though? Someone with a successful exit in the past?
-
Selected by me.
- Show replies
New conversation -
-
-
Off the top of my head, it would be optimistic to think a randomly selected person would have a 1/100 chance of making a startup worth $10m. So EV = $100k. Whereas Patrick Collison, if he started over now, would have at least a 25% chance of getting to $1b. EV = $250m. So 2500x.
-
Incidentally, I'd also be willing to normalize for socioeconomic status. I.e. I'd be willing to pay the same premium for Patrick over a random person from whatever village in Ireland he grew up in. (If it weren't for the fact that that would mean a 5% chance of getting John.)
- Show replies
New conversation -
-
-
But surely you see that it's a false dichotomy, right? Or are you so blinded by your self-interest that you cannot see the unfairness of overly rewarding the top of pyramids (the most leveraged positions)?
-
This Tweet is unavailable.
- Show replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.