On: Deals Missed

[confluence]

There are 1000s of startups on the anti-portfolio list. Only the winners are shown.

Investing in startups is hard.

[dyno12345 → confluence]

Is it even better than random?

This anti-portfolio is so impressive it seems to suggest a strategy of investing a small amount in all but the stupidest rather than even trying to pick winners

[confluence → dyno12345]

Yes. Being better than random is a particularly low bar to pass.

[dyno12345 → confluence]

Is it so hard to believe? We still put hundreds of billions into mutual funds that aren't better than random