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.
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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.
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Question: Why Patrick? (Not asking with a negative connotation at all; love the guy). Is it because of prior success in business that his chances of continued success are higher? Or is it just because Patrick is crazy smart? Or both? Or something else altogether?
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Patrick is smart but above all extremely effective.
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