And after that they started a hedge fund and have been playing in the real big markets..ever since.

That (hedge funds) and all such things seem to be basically about one thing : Know of a statistical advantage that others don't know and then play mechanically with zero emotions as possible. Play for the long term, play for sensible gains/expectations and put risk-management above everything else.

[Edit] As I am thinking about this : Startups are probably a similar kind of game as well.