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I think the point about the need to be a contrarian investor, and the fact that contrarians are in the minority by definition is really compelling. I'm not sur
by nirvana 15y ago
I think the point about the need to be a contrarian investor, and the fact that contrarians are in the minority by definition is really compelling.
I'm not sure if I'm reading this into the essay, or it was intentional, but it seems to be that a good quality for a founder is the focus on the business they want to create should be strong enough that external factors like the macro-economic situation become essentially background noise.
Or, maybe I'm just pig-headed!
I do always wonder, when investors talk about how important the team is, how they judge the strength of a team. Recruiters can't judge programmers very well, so, how does the average investor? PG has an advantage, being a programmer himself. I'm assuming most investors are not technical people.
- hvs 15y agoWhen PG is talking about the strength of the team, he's not just talking about programming. He's talking about business skills, technical skills, personality, the whole package. Technology is only one small part of what makes a company successful.
- felipemnoa 15y agoAnd most importantly, perseverance.
- HeyLaughingBoy 15y agoYou may be pig-headed, but you're right! If you want to start a business, start a business and forget about waiting for the "perfect moment." The situation will never be exactly right. You work with what you have, not what you wish you had.
- mathattack 15y agoIn a sense it's like having a baby. There are always 100 financial reasons to postpone, but if you wait too long (despite 100 good reasons!) you wind up saying, "I wish I done this years ago!"