Thinks 454

Scott Alexander: “A prediction market will strike it big when it gets three things right at the same time: real money, easy to use, easy to create your own subsidized markets.”

Sam Altman: “Key early-stage investing questions: Of all the things you could work on, why this? How does this eventually become a $100 billion business? What do you understand about this that others don’t? What progress have you made in the last week? What are you really great at?”

FT: “Vimes Boots theory…demonstrates the choices denied to those on a low income that could save them money. Those who can afford the $50 for a high-quality pair of working boots may get more than a decade’s use from them, while those who cannot will buy a $10 pair that lasts little more than a year. Hence the poor will spend $100 over a decade and still have wet feet, while the wealthy spend half that. Vimes theory is that the rich were rich because “they managed to spend less money”.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.