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I don't think that's quite applicable in this case, as getting a business funded is a far cry from winning the lottery -- plenty of people frequenting this site

I don't think that's quite applicable in this case, as getting a business funded is a far cry from winning the lottery -- plenty of people frequenting this site were able to obtain funding under similar circumstances (a lot of rejections amidst a couple yes's). The reason this is the exact opposite of winning the lottery, is that the lottery is the equivalent of saying, "Please, a higher power, change my life by granting me all that I want.", whereas someone getting their company funded is more akin to saying, "I want to take full responsibility for the failures and successes of my own life, and to even become responsible for the livelihood of others.". In short, they are worlds apart as far as mentality goes. Regardless of the success of the company after the funding, going forward with a company in the face of such utter rejection by those who the author viewed as "smart people" takes a mentality that is shared by pretty much all of those who have achieved similar success.

vacri 11y ago
arikrak is saying that it's "this startup became a billion-dollar concern" that's winning the lottery, not the funding step. The funding step is analagous to buying the lottery ticket. In clearer words, it's confirmation bias: there are thousands of ideas and startups pursuing them. Most fail, some succeed, a rare few become AirBnB gorillas.
curiousjorge 11y ago
Or maybe the "smart people" are exactly that and that's as far as they will go as we've seen throughout history when smart people get together decisions become more about maintaining ones ego rather than actual results. Taleb terms so called smart people as "empty suits". 50 cent is a successful venture capitalist, but do people picture him first when they think smart people?