Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More
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The Future Is So Unknown for Early Stage Companies
The future for early stage companies is highly uncertain due to the complex and evolving nature of the business environment. Valuing early stage companies involves considering them as options rather than traditional financial assets, taking into account volatility in the market. This approach acknowledges that the interactions and adaptations of various agents in the system contribute to the unpredictable nature of the business world.
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