Caleb: I'm a cognitive miser and I didn't understand what they were trying to do, so I just ignored it. So hindsight bias, of course, everyone can be kicking off the same sort of things. In venture, you're pushed into decision that you don't want to make all day long. That's effectively like your game or someone else is putting a term sheet there competitor just raised around. This is moving fast, this great company great like speed is the only competitive advantage you have. It is also the biggest competitive disadvantage that you have because like it's an advantage if you're willing to move fast.
Rohit is a VC and essayist who writes fascinating, thought-provoking essays on complexity, progress, innovation and technology over at Strange Loop Canon. He joins the show for a second time to discuss the lessons learned from the FTX meltdown, why there isn’t a philosophy of business, creating an AI picture book, and a whole lot more. Important Links:
Show Notes:
- What can VCs learn from FTX?
- FTX, hubris and good manners
- “Don’t let anyone push you into a decision that you don’t want to make”
- Signing up to the right narratives
- Why you can’t beat the market
- Why isn’t there a philosophy of business?
- Markets, desire and innovation
- How AI allows us to talk to machines in our language
- The complexities of the AI sentience debate
- How AI unlocks new outlets for creativity
- The need for positive stories
- The three components of innovation
- “Curiosity is a shit starter”
- Finding new ways to create community
- Openness and experimentation
- MUCH more!
Books Mentioned:
- What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O’Shaughnessy
- The Genius of the Beast: A Radical Re-Vision of Capitalism; by Howard Bloom
- Unflattening; by Nick Sousanis
- Slouching Towards Utopia: An Economic History of the 20th Century; by Brad DeLong
- American Gods; by Neil Gaiman
- Lessons: A Novel; by Ian McEwan