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18308

Misidentifying talent

Out of context, you might think they were scouting actors or models, but these are baseball players ("A" is Lloyd Moseby, "B" is Jim Abbott, and "C" is Derek Jeter), ones that were quite good (Lloyd Moseby was arguably only a very good player for perhaps four years, but that makes him extraordinary compared to most…

18315

I was wrong, we need crypto

To say I've been skeptical about Bitcoin and the rest of the crypto universe would be an understatement of epic proportions. Since the early 2010s, some of my most ferocious Twitter battles have been against the HODL army with the laser eyes. There's just so much to oppose: Bitcoin's grotesque energy consumption, the…

18317

Minsky Moments in Venture Capital

Markets rise, and markets fall. This much, at least, is well-known. But why do market cycles occur? What causes the pendulum to swing from euphoria to crisis and back? Hyman Minsky was a 20th-century economist whose ‘financial instability hypothesis’ is probably the best-known explanation for the boom and bust cycles…