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My understanding is that the best thing you can do in finance is make loads of money, but the second best thing you can do is set loads of money on fire.
by furyofantares 3y ago
My understanding is that the best thing you can do in finance is make loads of money, but the second best thing you can do is set loads of money on fire.
- seanhunter 3y agoThis. Nothing succeeds like failure. I've actually heard of VCs who prefer founders who have had high-profile failures because their theory is those founders will have learned a bunch of valuable (expensive) lessons. The null hypothesis for me is those founders may not have learned those lessons and may just not be that great.
- rurp 3y agoThis seems to me like expecting that someone indicted for a crime will learn their lesson and be less likely than average to commit crimes in the future. It makes some sense in the abstract, except that we have tons of empirical evidence that those people are more likely to commit future crimes.
- hezralig 3y agoOr perhaps expecting someone who committed crimes and got caught to have learned how to not get caught.