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Y-combinator has had a long run of successes, far beyond what could reasonably be attributable to luck.
by blacksmythe 14y ago
Y-combinator has had a long run of successes, far beyond what could reasonably be attributable to luck.
- deleted 14y ago[deleted]
- SatvikBeri 14y ago"The same was said of Berkshire Hathaway for the majority of its run under Warren Buffet, a success that has recently begun to wane." Where do you get the "success that has recently started to wane"? Berkshire Hathaway has continued to outperform the market, check 5 and 10 year charts here for example: http://www.fool.com/quote/NYSE/berkshire-hathaway-inc/BRK-A/charts?source=itxwebtxt0000009 http://www.fool.com/quote/NYSE/berkshire-hathaway-inc/BRK-A/.... Obviously they haven't had the same level of outsized successes, simply because BRK has grown much bigger, and it's harder to get good returns on larger amounts of capital. But there's no way you can conclude from Berkshire Hathaway's performance that it was just luck after all. Also, see cs702's comment about how Warren Buffett identified 7 investors in 1984, all of whom went on to outperform the market: http://news.ycombinator.com/item?id=4476166 http://news.ycombinator.com/item?id=4476166
- forgotusername 14y agoSeems just before you replied I deleted the parent comment, due to it stretching my analogy a bit too far, and into realms I'm far from authoritative in (or comfortable debating :).
- mhartl 14y agoYC is an investor, putting money into lots of startups. As a result, it benefits from the law of large numbers (https://en.wikipedia.org/wiki/Law_of_large_numbers https://en.wikipedia.org/wiki/Law_of_large_numbers), so luck isn't as big a factor as it is for individual startup founders.