VCs seem perfectly content to point to a power law curve and "admit" that in their view, "true" valuation is impossible and irrelevant, risk is so high most com

VCs seem perfectly content to point to a power law curve and "admit" that in their view, "true" valuation is impossible and irrelevant, risk is so high most companies are going to fail, so all they care about are the outsized wins. They then turn around and put in a ton of warrant provisions and downside protection anyway, but they at least claim publically that power law rules