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
The hardest part about being in a leadership position in a company is it requires this constant calibration of arrogance and humility. The arrogance to believe that we are going to build a more sublime internet but also the humility to know that there are many things that we will be wrong about. And it's hard because it's often not clear at what... See more
Spend more time with people living in the future…’Seers’
That’s the fun thing about getting to be alive right now. If you’re open and curious, you’ll be able to do more, and learn more about yourself, than has ever been possible.