1) Variance in outcomes is far higher than variance in entry price for a given investment. 2) If you don’t have both capital reserves and the ability to double-down in winners (through pro rata or founder relationship) it’s quite challenging to outperform as a fund.
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30 one-sentence views on the venture industry
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1) Variance in outcomes is far higher than variance in entry price for a given investment. 2) If you don’t have both capital reserves and the ability to double-down in winners (through pro rata or founder relationship) it’s quite challenging to outperform as a fund.