The excessive spread between valuation and value causes reality to come knocking.
Powerful is the determined risk of the first money-in that changes the world for the better. Follow-on investing is an easy peasy risk-profile, not powerful but handy to have around.
You either bet on the stupidity or the smarts of humanity. The definition of best becoming a function of the holding period.
If I Would Like To Start A Venture Capital Firm, What Are The Key Things That I Should Keep In Mind At The Early...
Understand what it takes to pursue prime risk.