Mason  🏃‍♂️ ✂️

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.

I agree, but I think (a) they don’t operate as efficiently as a literal market, which is what VC is, and (b) they vary widely by field, which essentially accounts for what we call “rigor” (less confident on that point)

To give a business example: when was it first realised a woman, teenager, non-aristocrat, etc. could successfully run a company? I am sure it was long ago but I am also sure the error persisted for a long time despite the bounties that were as real as they are now.

Within that system, you can see how stunting overall pie growth maintains your own slice...but you should expect societies that don't do that to eventually beat you, which they do. They can even beat you incrementally, just by allowing *some* non-elite to secretly run businesses