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Because there are more people who have the technical skills to run hedge funds than there are hedge funds. You fill the manager role with someone you're comfor
by joncrane 9y ago
Because there are more people who have the technical skills to run hedge funds than there are hedge funds. You fill the manager role with someone you're comfortable with on many levels.
OTOH, professional sports leagues are about winning intense competition, and skill is much more important. Even then, coaches and owners play favorites.
It's not a binary system, it's a spectrum, and professional sports are towards one end of the spectrum and hedge fund management and VC founding are towards the other end.
- everdev 9y agoExactly. We're social creatures and relationships matter.
- AstralStorm 9y agoThe part people miss is that relationships rarely expand at random. They're local and koinophilia (liking alike) plays a huge role. Even if J. Random put all their training into building and managing relationships it would likely not amount to anything of note. (They will have fewer resources and be excluded from some social circles.) There are many necessary components of huge success.