1/ Zero marginal cost of digital technologies is replacing normal distributions with power laws
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3/ Compared to normal distributions power laws tend to amplify luck more than they do skill, expertise, effort, …
@albertwenger Do you find that luck is the dominant factor in the success of Union Square Ventures portfolio companies?
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@paulg luck is the dominant factor for all individuals starting with where you are born includes start-up founders and investors -
@albertwenger Luck is WHEN you're born too
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@paulg@albertwenger One must be able to take advantage of luck. Both come in various degrees. The best founders scale crumbles of luck.Thanks. Twitter will use this to make your timeline better. UndoUndo
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