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#191 with Mike Maples - 4 Big Trends and $0 to $1 Billion Startup Idea Frameworks
My First Million
The Mental Models for Start Up Investing
Mike Ehrlich: Most people have a set of factors, that cause them to think that a companyis a good investment or not. In our world, none of those mental models apply because the start up's not a company,. There is no operating history, there's no mote. They don't even have a product yet. And so what i think we're better at than most is, a, understanding that's true and b, then asking, ok, so what should the mental models be? Right? If charley munger and warren buffett have 90 mental models, and they don't apply to start up investing. Well, what are the mental models for
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