> This is why outliers like AirBnB are so difficult for investors. Sure, many investors didn't think it would be successful, but more importantly, they also did

> This is why outliers like AirBnB are so difficult for investors. Sure, many investors didn't think it would be successful, but more importantly, they also didn't realize if AirBnB was successful, just how large it could be. What a great example, and great way to think about this phenomenon. I completely agree with your post and have known about these dynamics of VC investing for 15 years, so am rarely surprised when it comes to this topic - but this way of putting it actually makes me think differently about things. Thank you!