How to think about risk in Blockchain, Private Equity, Public Markets

Last night a dinner discussion turned again to private equity markets, blockchain, stablecoins, and money. The argument went that public markets had less risk because they have stricter audits, governance. In private equity, you also have to find a buyer and negotiate a price and terms of your private equity stake. Stocks that are traded … Continue reading How to think about risk in Blockchain, Private Equity, Public Markets

Data is only keeping our perceptual best guesses in check.

closeup of a plane

I often listen to the talks from The Royal Institute, sometimes while driving, like a podcast. A recent one in my playlist was a re-discovered talk by Anil Seth, "Is Reality a Controlled Hallucination?" - I remember his talk at TED four or five years back. We think perception is a process of reading out … Continue reading Data is only keeping our perceptual best guesses in check.

Venture Capital is a Financial Product

When we due diligence emerging managers, not presenting an investible financial product is the fastest way to come to a "no". It's true that you have to make "good investments" (whatever that means), but unless you are only investing your own money, you need to offer a financial product that attracts LPs. HNIs and family … Continue reading Venture Capital is a Financial Product