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5min chapter
Andrew Wilkinson: The Hardest And Easiest Businesses To Start
My First Million
The 2% Management Fee of a Venture Fund Is $200 Million a Year
FTX lost $300 million on a bet that it would do well. The amount of diligence you would assume happens on large bet sizes like that is actually nowhere near what it, what it could or probably should be. And so I think this is something that will go away in the long term. It's just investing in businesses that really are not good for investors.
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