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There are a limited number of great, breakout startups, and they can only really utilize so much capital. Reallocating your pension fund doesn't magically creat
by Brushfire 11y ago
There are a limited number of great, breakout startups, and they can only really utilize so much capital. Reallocating your pension fund doesn't magically create more amazing startups.
- foobarqux 11y agoScarcity should drive up the price and push net returns towards those of the broad market.
- ajju 11y agoThe thing you are missing is that it's really really hard to find the breakout startups. Even the top tier VCs don't know for certain whether a specific investment will be the breakout in their portfolio. They are betting that 1 out of n will be 1000x.