> VC is a casino for the rich and just like gamblers in casinos they have no idea what they are doing Except that the VC expected return is positive. They jus

> VC is a casino for the rich and just like gamblers in casinos they have no idea what they are doing Except that the VC expected return is positive. They just need a sufficient number and diversity of bets to lower their variance to a small value relative to their expected return, which most of them don’t do.