4 ms·
Poker is a lot like starting companies but I don't like the metaphor you use at all. The similarity is very simple. Both are extreme variance games. When you pl
by dumbfoundded 6y ago
Poker is a lot like starting companies but I don't like the metaphor you use at all. The similarity is very simple. Both are extreme variance games. When you play a high variance game and lose, it's difficult to tell if you played poorly or got unlucky. Playing perfectly (GTO) in poker requires that sometimes you get stacked. Most people have trouble with this concept. The idea that they can do everything right and still not get a great outcome is scary.
Another valuable concept in poker is stack size. In poker, you should never play a hand in a game where you don't feel comfortable losing your entire stack. Similarly for running a company, you should try to make many small bets (or experiments) when the outcome is high variance. You shouldn't risk your company with every decision. Learning how to take lots of little risks well can even out the variance without ever putting you at significant risk.
There's a lot to take away from poker when starting a company. I don't think your article covered the important bits.