Monday, September 10, 2012
Black Swan Farming - By Paul Graham
Great piece from Paul Graham (though
posted it first!).
I've done several types of work over the years but I don't know another as counterintuitive as startup investing.
The two most important things to understand about startup investing, as a business, are (1) that effectively all the returns are concentrated in a few big winners, and (2) that the best ideas look initially like bad ideas.