This simulation concludes that you need a portfolio of 100-150 startups to achieve a good return because there are a few home runs that contain much of the gain

This simulation concludes that you need a portfolio of 100-150 startups to achieve a good return because there are a few home runs that contain much of the gain. Miller calculated the number was 20-30. These results were apparently used by http://www.rightsidecapital.com/ http://www.rightsidecapital.com/ to develop their new approach.