What Jerry is talking about is not adverse selection. It’s the second way of increasing convexity: funding the far-out-there-ideas, the Big If True ones. It’s one of the reasons I love the general venture zeitgeist around deep tech right now. If crazy bets like underwater energy storage, transformer-specialised chips, or tiny semi fabs succeed,... See more
It also could not be a better time for a paradigm shift. AGI and likely soon after superintelligence will force us to rethink human role in society. In the new world, the value of the human brain is increasingly defined on how creative it can be. Cosmic optimism helps us navigate this transformation by emphasizing focus on the very human qualities... See more
Weird is interesting . My friend Jared recently joined Union Square Ventures as a venture partner and wrote a short essay about the consumer applications we should be looking for in the age of AI - and how likely they are to appear “weird” at first glance. Indeed, new social paradigms that consume our psyche tend to appear strange when we first use... See more
As a founder, the goal then becomes to metaphorically peel each layer of the onion — Each fundraising milestone turning into a set of risks being evaluated and sidelined. The earliest investors become the partners to help figure out what to focus on. Good pre-seed angels and investors are often described as “having taste” for good startups — In... See more