…pect of my transition from inventor to investor that has struck me is the following seeming paradox: It could be argued that in comparison to a great entrepreneur, a great venture capitalist must have a an even ‘longer view’ on the waves of change in our world; an even greater focus on the people they work with and an even healthier appetite for risk in order to capture power law returns in their portfolio, which they must! Thoughts?
AR/VR is a good example. In general my gut tells me it will happen. That has to be balanced with a risk-adjusted perception of when alongside an assumption of how to capture the power law returns you correctly mention. On top of that comes the most critical: the whom to work with on the opportunity (and BTW should have tagged you as well… hope to geek out on something soon!)