Venture capitalists are perhaps the only elites in the world that are highly incentivized to make newcomers much richer than them.
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They're also among the very few audiences that encourage crazily ambitious ideas, instead of ridiculing them.
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Yes. “Is this true?” vs “Is this popular?”
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that’s a great way to frame it!
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Two brilliant tweets at once.
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But they're also the audience that asks other people to take all the risk, whilst they hedge. It would be more exciting if their risk profile was more closely aligned, particularly if more entrepreneurs could go for bigger outcomes without being all or nothing...
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A little like parents reading a story to their kids before they go to sleep. VCs give founders space to dream :)
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How to define a "crazily ambitious idea"?
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Investing will become one of the core jobs and employers of the future, especially as tech continues to eat the world & automate labor. In a world with fewer jobs, the only way to be worth anything is to own equity. The only way to own equity is to be a creator, or an investor.
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“They” don’t. That particular economic system does. The VCs themselves are pretty fungible nodes driving the bus and working to its incentives. Celebrate the system (and all its agents), not VCs as being somehow uniquely open minded.
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