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4min chapter
Andrew Wilkinson: The Hardest And Easiest Businesses To Start
My First Million
The Smart Money Is Just as Dumb as Me
I tweeted something that kind of, I don't know, ruffled some feathers. This year, I learned there is no quote smart money. And Dries, since a koya, chamat, tiger, tribe, co2, soft bank paradigm, Alameda FTX, they all made terrible financial decisions at huge size and yet most will get richer. They play a rigged game. These funds manage billions of dollars and they'll make hundreds of millions and fees along the way. As a reward, even if they lose their investors money, these aren't just companies that they invest in that start to underperform.These are huge bets on fundamentally flawed assets. It's
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