Re:Black Swan Seed Rounds
by graeme on Monday July 28, 2014 @06:07PM
(#8099618)
The point is that is that you can precisely calculate the (negative) expectation value of investing in lottery tickets. Or even the expectation value of lottery tickets.
But you can't calculate the expectation value of startup investments. One outlier skews the whole sample, and there is no limit on how high.
Taleb explicitly placed startup investments as those that are antifragile.
But you can't calculate the expectation value of startup investments. One outlier skews the whole sample, and there is no limit on how high.
Taleb explicitly placed startup investments as those that are antifragile.