On Oct 11, 2008, at 12:52 PM, Christina Wodtke wrote:
Venture capital is not like other kinds of money. They bet on a lot of
different highly unlikely things. All their bets are on weird and
unknown
aproaches. They bet smart people will figure things out. They bet
that if
even one of their 50+ investments makes it big, they will make crazy
piles
of money. They don't work like the businesses you work with. They
work like
professional gamblers. Innovation and optimization require very
different
approaches.
Ok. that makes sense on some level.
I can't say I've ever understood VCs that well. They are from a
different world than the one I hang around it. (We tend not to have VC
funded companies as clients. Our folks are more meat-and-potatoes it's-
always-clear-what-the-biz-model-is types.)
So, I'll take it on faith that they somehow know how this will play
out (or are betting that someone will in time).
Jared
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