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I was typing up the same comment when your hit. Kelly criterion is a great mental framework, but the math obviously doesn't work out for VC placements. The bes
by cjlars 7y ago
I was typing up the same comment when your hit.
Kelly criterion is a great mental framework, but the math obviously doesn't work out for VC placements. The best alternative I've been able to come up with is to brute force / simulate thousands of different portfolio outcomes and optimize from there.