Wait! Are you telling me this wasn’t how investing was being done before? Wow!
Because any ‘investment’ that does not follow these rules isn’t investing. That’s gambling. Or was gambling par for the course in the VC industry till this point?
I am a little confused. Have we learnt nothing from all the crashes over the past 400-odd years when Tulip Mania should have ideally brought some introspection into people with money to spare?
Or does every generation have to learn this anew? In which case, what use the Internet, books, case studies, business schools, or media? Of what use experts and mentors, seniors and experienced people, gurus and professionals?
Or have we stopped listening to them? Or we never did? So many questions.
P.S.: A small matter of disagreement is that I do not believe in moats. I had written about it in the past. (Note: Tasha & Girl is dead, but for reasons completely different than any moats or lack thereof; the article makes sense even without that).
