Betting on people over ideas saved me countless times as an investor. We thought Airbnb was a bad idea, for example. But we could tell the founders were earnest, energetic, and independent-minded. (Indeed, almost pathologically so.) So we suspended disbelief and funded them.
Thursday, January 15, 2015
As PG points out.
They have a more flexible system, as Bunnie points out., and it allows them to do all sorts of neat things, like innovate on cell phones at a rate unimaginable in the US.