recombine with other ideas, when hunches can stumble across other hunches that successfully fill in their blanks, may seem like an obvious truth, but the strange fact is that a great deal of the past two centuries of legal and folk wisdom about innovation has pursued the exact opposite argument, building walls between ideas, keeping them from the k

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Despite mountains of theory and evidence supporting idiosyncratic risk as the source of outperformance, it’s just not where the incentives lie for venture capital.