i like the theme abe. its definitely a bit annerving to dedicate several years of your life to something with an outcome, as you suggest that may have more to do with luck than your own effort (taleb's basic argument). that being said, luck favors the prepared, so i would say that being in the game means that you can seize upon opportunities as they present themselves. if you're stuck at some j.o.b, might be tough to get involved.
there's something interesting about entrepreneurship is that doing one thing often excludes doing other things. so the biggest thing an entrepreneur has to weigh is opportunity cost. perhaps a key skill of an entrepreneur is to be able to identify which ventures to undertake and which to keep in the fridge.
as an investor however, i want to make sure i am investing alongside of the entrepreneur. the entrepreneur, not having much cash, invests his opportunity cost in the activity. if not, im not investing... congrats on the blog! looks like a very promising theme
Abe Murray
· 1 year ago
Thanks Tijan - I agree that luck favors those prepared to take advantage of it. Even Taleb, more skeptical than I, agrees that you need to at least be in the game and above some minimum quality bar to be able to succeed randomly.
I also agree that the bigger loss / problems are those of opportunity cost. It just seems silly to me that the current system results in both financial and professional failure to the entrepreneur who didn't realize her dreams - the professional failure and lost opportunity cost weigh heavily enough as is.
Thanks for joining the discussion - looking forward to many more!
All Comments
there's something interesting about entrepreneurship is that doing one thing often excludes doing other things. so the biggest thing an entrepreneur has to weigh is opportunity cost. perhaps a key skill of an entrepreneur is to be able to identify which ventures to undertake and which to keep in the fridge.
as an investor however, i want to make sure i am investing alongside of the entrepreneur. the entrepreneur, not having much cash, invests his opportunity cost in the activity. if not, im not investing... congrats on the blog! looks like a very promising theme
I also agree that the bigger loss / problems are those of opportunity cost. It just seems silly to me that the current system results in both financial and professional failure to the entrepreneur who didn't realize her dreams - the professional failure and lost opportunity cost weigh heavily enough as is.
Thanks for joining the discussion - looking forward to many more!