The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: Altimeter's Brad Gerstner on Why Supercycles and the Powerlaw is the Most Important Thing In Investing, Why Portfolio Diversification is the Opposite of Risk Mitigation and The #1 Question Brad Asks All New Recruits

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

NOTE

Is Yiming the Winner?

I look for pattern recognition around companies that become the market leaders in super cycles. It was clear to me that Yiming could build the largest entertainment and newsfeed in China. And it was a deliberate bet against a super cycle. booking.com. had less than 1% penetration of what was going to be a massive market, which was buying hotel rooms online. To me, I think if you're leaning back and saying, or if you're talking to all your buddies and they're like, this is the winner, this are the winner, to me, that represents a lot of momentum trend following.

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