@chamath Intellectually honest. Those that have invested in VC for a long tine would appreciate.
Direct Alpha has pros and cons. IMO it’s not the best venture metric. Few vintages drive outperformance in VC.. (more narrow than PE vintages/bow factors)
https://t.co/HyYYGYmsVT
@paxtrader777 You also couldn’t tell when he was deeply long or short… he could turn on a dime and not be emotional about market direction. I learned a lot from the guys in they pit as an observer (I was not a futures trader but eventually became an options market maker.)
@paxtrader777 Clerked for another firm at this time. … can confirm all of this. (Watching Fredo and PAX was a great education and privilege)
PAX was not only a great trader.. but an even more impressive guy. Helped guys when hung and also didn’t put up with scumbags
@AmericanAir
Once again …. I fly with a lap child and your gate agent won’t let families additional time to get situated/board.
Then I have to struggle to find space for my bags in the bins. This is stupid and inhumane way to treat families. Please change this policy!
@chamath The implicit assumption is one person made a decision. Everyone makes mistakes and everyone has blind spots. Even if one person makes the final decision he or she has been influenced by others. What do people learn from their mistakes?
@chamath All depends on the product, industry and cap stack requirements for growth. The larger the company....the less a CEO is in control.... by reality. Vision alignment (and team values to blind spots) is more important than control.