> one of the best signals that a category is investable is a previous failure with clear and actionable lessons Just about the only useful thing I think I've l

> one of the best signals that a category is investable is a previous failure with clear and actionable lessons Just about the only useful thing I think I've learned from Victor Davis Hanson* is that you don't want to buy your farm machinery retail, you want to get it at auction, from the poor schlub who just failed in the field. * shorter VDH: academia is bad because they want you to use the bathrooms when you piss