Mason  🏃‍♂️ ✂️

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

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*

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

Not necessarily. What if the knowledge that the bias isn't true isn't yet known to anyone in the VC culture?

In academic fields, it is disturbingly common for entire fields to be in thrall to a misconception, to their detriment, for decades.

Right, but... a weakness of academia is that too often ideas aren’t expected to pay their own rent Shots fired

I suspect this varies a lot by field? But you shouldn’t expect bad ideas to last long under conditions where the more that rests on them, the greater the *literal* bounty on a correction. And you should expect them to live long where there’s no bounty, only a guillotine

As much as I enjoy academia bashing, there are bounties there too. They might not take the form of cash but there are people who'd work tirelessly to be recognised for correcting a particular misconception. And there are other bounties too.