In The General Theory of Employment, Interest and Money, Keynes wrote about investment through the metaphor of a newspaper contest to select the six best looking people from a group of photos, with the prize being awarded to the contestant whose choice most closely corresponded to the average of all contestants. Keynes’ point was that,… Continue reading Why venture capital should be consensus-averse
Tag: Investment
NFTs – The Web3 startup investment vehicle
Consider NFT/Web3 projects as startup investments, except the only fundraising mechanism is equity crowdfunding and we’re ALSO the customers. It incentivises piling into the biggest project, as investors, users and advocates, because ‘making money’ beats ‘better ideas’. Of course in typical startup investment, incentives are better aligned to the point that seeking out smaller, more innovative companies… Continue reading NFTs – The Web3 startup investment vehicle