Ajinkya Wadhwa

Of course, inexperience is not the only reason people are too harsh on early versions of ambitious projects. They also do it to seem clever. And in a field where the new ideas are risky, like startups, those who dismiss them are in fact more likely to be right. Just not when their predictions are weighted by outcome.

And finally, those 20 communities are all part of the larger 500-person community.

And let’s say those 500 people are divided perfectly into 100 five-person families.

How the Two Minds Think

So what exactly is spirituality, as we’re using the word today, and what do we need from it?

In startups, the big winners are big to a degree that violates our expectations about variation. I don't know whether these expectations are innate or learned, but whatever the cause, we are just not prepared for the 1000x variation in outcomes that one finds in startup investing.

Is a wedding the greatest example of people profiting off a loophole in our psychology? Is it really an outdated cultural artifact that is kept in place by our need for social approval?

Each of these investments collectively fall into what I call the Happiness Portfolio.