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
Invest in people, not ideas
As PG points out.
Patents and innovation in China
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.
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