Not sure why this has to be an economist it gives zero extra value. Perhaps a slight change - the VC believes somewhere in the city $100 is on the ground, and by being prepared and positioned correctly they will find it before others
A $100 bill is on the ground. An economist walks past it. A friend asks, "Don't you see the money lying there?" The economist says, "I thought I must have imagined it. If $100 was really on the ground, someone already would've taken it." Starting a company is picking up the $100
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It’s a famous joke about the efficient market hypothesis
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Omg no! it’s a $20 bill!
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I’ve only ever heard the joke with a $100 bill!
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im going to spend hours figuring out the origins (I know the history of free lunch quip)
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Lol no it's not. Starting a company is like if there was a 50/50 or worse chance it was $100 or an angry skunk. Starting a company is definitely not picking up free money...
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Then lighting up the bill on fire and using it to set a pile of money on fire, while the economist, with her jaw on the floor, is trying to figure out what the heck you are doing.
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While you then use the money fire as evidence that other ppl with $20s should keep funding you because this fire is going to turn a profit soon.
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Except the $100 is buried deep in the pavement. You must spend $90 for tools to reach the $100 and it might be fake, or you might get in trouble for messing up the pavement, or someone else might get to it first.
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or: starting a company is like throwing a bag of $100 dollar bills on the ground and picking up $1 slowly.
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Except that when you bend over to pick it up someone comes and kicks you in the face. When you wake up you can’t find the $100 bill and then you have to desperately scour the city looking for $1 bills while wondering if the $100 bill was really even there in the first place.
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Clearly not a behavioral economist
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Exactly what I was thinking
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There’s a $100 on the ground, a venture capitalist comes by and says, “I’ll give you $200 to search the rest of the sidewalk, but I keep everything you find.” A banker walks up and says, “clearly I must have dropped it, but if you give me $20 I’ll let keep it...”
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Starting a DTC brand is giving $40 of it to Facebook/Google.
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