One of the most counterintuitive equations that governs investing in startups: E[μ | do(max(σ))] ≫ E[μ | do(max(E(μ)))] In other words, maximizing variance increases expected returns much more than…

Posters: eshear. eshear

8 likes recorded by the source corpus.

Topics: Startups, Economics

View Post: https://x.com/eshear/status/1847405260635267398