Startup investing is unlike nearly all past forms of investing in that the big mistake is not choosing investments that lose money.
In startup investing, the big mistake is not choosing startups that fail (that's inevitable) but turning down the big winners.
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What a metaphor for life.
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It's not that revolutionary. Investing in spice ships in the 17th Century, all will cost money some have bigger potential returns
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True. The winning though, is partly a result of the Investor's strategic contribution to the start ups development.
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So is one solution to seed many?
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how would you know the big winner beforehand?
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counterintuitive to most b/c pain of losing money (startups that fail) is far greater than joy of being rich (
#FB, Airbnb, Stripe)Thanks. Twitter will use this to make your timeline better. UndoUndo
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conventions in larger fund models often need fewer, concentrated bets; early funds, accelerators can index, diff kind of advantage
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what are the top 5 companies you turned down that you wish you hadn't?
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Guessing none of them are bigger than
@Airbnb
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@paulg does that mean that its better spread your capital to many small rounds rather that some big ones ? -
Not beyond a certain point. Fundamentally you just cannot screw up and miss the big ones.
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