#68 – Steven Teles on what the Conservative Legal Movement Teaches about Policy Advocacy
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The Role of Institutional Expectations in VC
I think it's really important to recognize that one thing that's necessary in this domain is a willingness to fail, right? That is, if you're too worried that you're going to make an investment, it's not going to work out. In VC, it's only because people have created institutional expectations that they can get away with having 19 out of 20 things mostly bust. It's another case where that's a highly institutionally determined factor.
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