good artists copy, great artists steal
mothfund.substack.com
good artists copy, great artists steal
Whenever you shift from the substance of a business to the financial question of whether or not it fits into a diversified hedging strategy, venture investing starts to look a lot like buying lottery tickets. And once you think that you’re playing the lottery, you’ve already psychologically prepared yourself to lose.
Peter Thiel, Blake Masters • Zero to One
We are in an age of noise.
The frameworks that got us here, of jobs-to-be-done or product-market fit, will be insufficient going forward. For founders to have extraordinary outcomes, they will have to find alpha in markets that aren’t easily understood.
Which is to say, technology alone won’t be enough. The other essential ingredient will be taste.
In the 1980s, a venture capitalist could truthfully say their investment was the difference between life or death for an important, generational technology company. Funding such companies, in this way, was absolutely a good quest. But today there are more people "helping the builders" than actually building, fighting one another in a zero-sum game
... See moreMarkie Wagner • Choose Good Quests
Fantasy Capital
investing1012dot0.substack.com
Fewer Losers, or More Winners?
oaktreecapital.com
