power law

“With a power law, the more investments you make, the higher your average.”

“One undisputable law, empirical law of a venture is the power law, right? And so the rare thing is not price. The rare thing is conviction and the company. And so if you've got conviction and you found the company, you write that check, 10,000,020 million, a h…”

“Given it's such a, and the industry is so driven by the power law, like, I think people can withstand cycles longer than we probably give them credit for.”

“It's especially hard in a venture firm in light of the power law, right? Again, very few companies are going to Create returns, which means there's likely to be concentration among different investors. Which suggests that you can have a skew of ego or insecuri…”

“If we can create more tools to have more founders to scale, then we can actually manufacture more outliers than the ones that naturally exist on the power law.”