In these fat-tailed environments it is better to go for breadth as opposed to depth. VCs have better risk-adjusted returns than entrepreneurs. See Taleb's ideas

In these fat-tailed environments it is better to go for breadth as opposed to depth. VCs have better risk-adjusted returns than entrepreneurs. See Taleb's ideas on this, as well as: http://navanitarakeri.com/Diversification.pdf http://navanitarakeri.com/Diversification.pdf and: http://navanitarakeri.com/CoveredCalls.pdf http://navanitarakeri.com/CoveredCalls.pdf