Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #372
For many years, I’ve been a huge fan of the writings and research of Michael Mauboussin, Wall Street research analyst and author of Expectations Investing, The Success Equation and many other best-selling books on investing. This week he released an awesome paper called Pattern Recognition which is a must-read.
This is something I think about a lot and know I can get trapped at times by the past. I expanded on this topic last month around our AGM and you can find that post here. Back to Michael’s paper, here’s where it applies to the world of venture capital and startups:
Startups are clearly built in wicked environments and the earlier you are, the harder it is to apply pattern recognition. This is also the time that it is easiest to miss the next big thing as all you have is the founders sitting in front of you, their story, and your past experiences to guide your decision. As these companies grow and scale, applying pattern recognition is much easier as the environment becomes “kinder” and there is more data to evaluate and analyze.
So when you’re sitting in front of the next crazy idea, check yourself, and rather than think about all the things that can go wrong, think about what needs to go right, how that could happen, and if so, how big this could potentially be. It’s these opportunities that can create the outlier returns your fund needs, but also the ones where pattern recognition can cause you not to make that investment. As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups
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What's 🔥 in Enterprise IT/VC #371
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