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You said "they're no longer in business", you didn't say "they lose money", those are not the same thing. You can lose money for a long time and still be in bus

You said "they're no longer in business", you didn't say "they lose money", those are not the same thing. You can lose money for a long time and still be in business because you're good at attracting capital. This is not an hypothetical, it actually happens in the real world. Madoff stayed in business for 30 years while at the same time losing money. Furthermore, you might make money but less than you could at no risk. Your criterion of being in business is awful. It sounds like it was the first thing that popped into your mind and you entertained it for about a second before typing it down.

josephg 2y ago
Being able to attract capital requires you to convince others to invest in you. For a VC firm, usually that means your fund needs to be profitable. Nobody will invest in a VC firm that loses money. So again, staying in business as an investor requires you to invest well. Or, I suppose, you could commit fraud. I’m assuming we’re talking about regular vc companies and not criminals. Yes, the truth is more complex than a single sentence can convey. I hope in time you can forgive my crime of brevity.
- lkdfjlkdfjlg 2y ago
  Being brief is ok. But if you're allowing for a broader interpretation of "being in business", then that's so broad that it's meaningless. me "what's your criterion for being good at investing?" you "you're good when you do well" If you're so brief that you end up saying nothing at all, just skip the typing instead.
  - josephg 2y ago
    > Being brief is ok. But if you're allowing for a broader interpretation of "being in business", then that's so broad that it's meaningless. On reflection, the long version of my comment is something like this: “The market is the best judge of VC funds. Good choices mean good returns. Bad choices mean VC funds go out of business. And BMF had been profitable for 113 years. Make of that what you will.” In retrospect, perhaps I could have said that. > …, just skip the typing instead. Similarly, lay off on policing my words so heavily. It’s rude. You are a single voice, and while your opinion is interesting, how I phrase things simply isn’t up to you. Especially when you do so from an anonymous burner account, “lkdfjlkdfjlg”. If you don’t like my tone, perhaps consider following your own advice. Skip all the typing and just downvote my comments.

josephg 2y ago

Being able to attract capital requires you to convince others to invest in you. For a VC firm, usually that means your fund needs to be profitable. Nobody will invest in a VC firm that loses money. So again, staying in business as an investor requires you to invest well. Or, I suppose, you could commit fraud. I’m assuming we’re talking about regular vc companies and not criminals. Yes, the truth is more complex than a single sentence can convey. I hope in time you can forgive my crime of brevity.

lkdfjlkdfjlg 2y ago
Being brief is ok. But if you're allowing for a broader interpretation of "being in business", then that's so broad that it's meaningless. me "what's your criterion for being good at investing?" you "you're good when you do well" If you're so brief that you end up saying nothing at all, just skip the typing instead.
- josephg 2y ago
  > Being brief is ok. But if you're allowing for a broader interpretation of "being in business", then that's so broad that it's meaningless. On reflection, the long version of my comment is something like this: “The market is the best judge of VC funds. Good choices mean good returns. Bad choices mean VC funds go out of business. And BMF had been profitable for 113 years. Make of that what you will.” In retrospect, perhaps I could have said that. > …, just skip the typing instead. Similarly, lay off on policing my words so heavily. It’s rude. You are a single voice, and while your opinion is interesting, how I phrase things simply isn’t up to you. Especially when you do so from an anonymous burner account, “lkdfjlkdfjlg”. If you don’t like my tone, perhaps consider following your own advice. Skip all the typing and just downvote my comments.