3 ms·

One wouldn't need a 100x if one hadn't over-funded all the bad bets.

• jopsen 9y ago
  And lots of bets would do fine if they didn't have to perform 100x Note: there are lots of successful small startups that never explode..
• jt2190 9y ago
  This is not the investment strategy of venture capital, though; they're not trying to be "smart" by picking a few good bets. They're placing a lot of small (small for them, "overfunded" for you) bets in order to increase their odds that one of the bets is really, really good. The more bets they make, the more likely they've bet on a 100x winner.