Not to say that VC works perfectly... but if it systematically fails to identify certain kinds of value, that’s a massive exploitable opportunity conferring rewards proportionate to the egregiousness of the systemic error
Show this thread
Fundamentally, venture capital is the business of identifying & believing in ambitious people who need someone to believe in them. The greater the extent to which they're underestimated, the more you stand to gain — why is this *never* articulated?
-
-
-
In other words, “the idea seemed crazy so they ALMOST couldn’t find funding” is exactly what you should expect to see if the system *is working*
Show this thread -
If you believe both (a) good entrepreneurial ideas matter & (b) VC is systemically biased in some direction that makes it a poor evaluator of ideas, you should predict that a fresh team is about to come in & wipe the floor with the good ol’ boys
Show this thread
End of conversation
New conversation -
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
So true. Also there are gains to be made by believing in people beyond venture capital too. Everyone, not just VCs, could benefit from that attitude.
-
It seems like a cultural failing if everybody’s default mentality is ‘I can’t make progress or do great things’ until somebody explicitly tells them otherwise.
- Show replies
New conversation -
-
-
I hate defending VCs... but it's not an extractive industry. They provide connections, insights/help plus money. Sometimes they shove money down your throat like a fuagra duck, but they don't just sprinkle money on your head and then pick up the gold you puke out.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Um no. LP’s their bosses care about one thing and one thing only cash on cash. All the rest is marketing and spin.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
That’s part of our model at The Family, I framed it as The War on Cynics: investing in those which cynicism leaves behind/ignored.https://twitter.com/pastormhm/status/1039205849955270656?s=21 …
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
That seems implicit right? The weirdness seems to occur when something is properly genius, yet is temporally misplaced in a way that makes it a gamble...Some innovations are obviously useful, but for whatever reason believing in them is still “faith” to some extent.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
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.