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Three counterintuitive lessons from a crypto investoooor

showerthoughts.substack.com · 1,187 words · saved by 1 readers

gm Substack! I finally started a Substack and for my first article I’ll be writing about three counterintuitive lessons I’ve learned from being a crypto VC over the last few years. Don’t worry I’ll get into more spicy topics like politics in future articles.

gm Substack! I finally started a Substack and for my first article I’ll be writing about three counterintuitive lessons I’ve learned from being a crypto VC over the last few years. Don’t worry I’ll get into more spicy topics like politics in future articles. This lesson is the most counterintuitive. But the math is actually quite simple. If you invest 0.5% of the fund in a company that returns 100x, you still don’t return the fund. And since VC returns follow a power-law distribution, 100x winners don’t come by very often, so every time you come across one you have to make that investment…

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