This chapter explores the intricacies of portfolio management, focusing on assessing portfolio managers' skills while disentangling luck and market factors. It examines the shifting narratives in the tech sector, especially concerning companies like Uber, Facebook, and TikTok, and their impact on stock performance. Additionally, it addresses the evolving landscape of autonomous vehicles and the complex dynamics of founder control in startups, highlighting the importance of valuation strategies and cash flow management.

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