The black box is exposed!
I recently asked a friend who just finished his first year as an associate at a big VC firm what was the biggest thing he learned in his first year.
His answer: “No one has any clue what they are doing.”
“What??” I said to him. “How is that possible? You guys are printing money. Don’t you have some type of magic formula?”
“You’d be surprised,” he responded. “Almost all the decisions are just kind of based on gut.”
When you’re on the outside looking in, it always seems like the people on the inside know what they are doing. They seem smart and confident and generally on top of their shit. But when you’re on the inside, you know the truth: Everyone is clueless. Those who try to tell you otherwise are suffering from delusions of grandeur.
I’ll give you an example of what I mean. Last month, the tech…
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