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Enlightening Thoughts from Venture Capitalist's Resignation Letter. | Investment Moats

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One of the best is this “resignation” letter written by Jerry Neumann, a 25-year venture capital investor. Jerry wishes to tell us how he got into this space and why he is not doing this anymore. If you are an investor, you might have a glimpse how unique his mental model about risk and investing, compare to your own mental model. If you are a financial adviser or general personal finance junkie, you will learn about something else. I will pick out the stuff that I connected with the most. Jerry has this theory that made him largely successful in getting into companies like Datadog and the Trade Desk. But only a small handful of investors share this theory. This was interesting because most of the VCs I talked to didn’t really have an articulable theory of company-picking other than “find good people with good ideas”. To folks like Jerry and myself, I wonder to be successful in this space, we really have to depend on something so subjective. Jerry wanted a better theory and he found a

Share Tweet I read a few good stuff this weekend. One of the best is this "resignation" letter written by Jerry Neumann, a 25-year venture capital investor. Jerry wishes to tell us how he got into this space and why he is not doing this anymore. If you are an investor, you might have a glimpse how unique his mental model about risk and investing, compare to your own mental model. If you are a financial adviser or general personal finance junkie, you will learn about something else. I will pick out the stuff that I connected with the most. Knightian Uncertainty - Invest in a Portfolio of Uncert

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