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A hit-driven industry is one in which big winners pay for lots of losers. Numerous bets are placed on opportunities that have the potential to be hits, with the full understanding that a significant percentage will not work out. Failure is a necessary part of the plan.
Patrick Vernon • Venture Capital Strategy: How to Think Like a Venture Capitalist
In another five to ten years, things will change again, and the only way to understand where the market is going will be to study not just the market winners but the market failures—along with doing a postmortem on your own forecasting and behavior. You don’t have to obsess over the losers, but I would certainly meditate on them and look for patter
... See moreJason Calacanis • Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000
Not everyone who starts a billion-dollar company is a Super Founder. Founders can land on their big idea without much past success, or even with a lot of past failure. The key observation seems to be that these founders have each had a journey. Those with past failure were 1.6 times more likely and those with even a modest exit, oftentimes consider
... See moreAli Tamaseb • Super Founders: What Data Reveals About Billion-Dollar Startups
Most of the best deals that we have done would not have survived the scrutiny of a partnership.