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The ability to understand risk and to know when it is not able to be diluted or controlled any further is the beginning of real wisdom.

You have to believe your parachute was packed right but always remember how to deploy your reserve.
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So true about VC’s thinking like a betting business. The best VCs know that and don’t lament on any losses. They move on to the next one. It’s one of these unwritten rules of Venture Capital that not all entrepreneurs realize. But it’s better to be naive and brave than to know everything and be afraid.

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I don’t think there is any question that the jockey is the gatekeeper to success. Particularly with startups and small companies.

Ironically just about every startup that grows to something of significance changes jockeys sooner or later. Many times at the behest of the jockey who only likes to run in the mud — the fire building stage.
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For me personally, every time I have lost money-I bet on ideas (horses) that look like they are on good courses. When I bet on jocks I win.

Very kind of you, sir.

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The first smart bet is always on the jockey. Bad jockey always loses.
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You are a damn good jockey.
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