Ventures

Entrepreneurs who sought venture funding usually did not need to invest any more personal money into the venture than they had already spent to bring it to life. But some venture capitalists did demand more. Arthur Rock, the senior dean of American venture capitalists and an early investor in Intel, always insisted whenever his venture firm put mon

Foxes, Tetlock found, are considerably better at forecasting than hedgehogs.

Foxes may have emphatic convictions about the way the world ought to be. But they can usually separate that from their analysis of the way that the world actually is and how it is likely to be in the near future. Hedgehogs, by contrast, have more trouble distinguishing their rooting interest from their analysis. Instead, in Tetlock’s words, they cr