> "The biggest secret in venture capital is that the best investment in a successful fund equals or outperforms the entire rest of the fund combined," he writes

> "The biggest secret in venture capital is that the best investment in a successful fund equals or outperforms the entire rest of the fund combined," he writes. This power law distribution of VC investments means that a few bets will get fabulously unequal returns and it's almost impossible to predict which ones those will be. Well it's "almost impossible" as long as they believe so and don't learn how to do it. C.f., https://news.ycombinator.com/item?id=8359765 https://news.ycombinator.com/item?id=8359765