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A very nice write up ruined by very partisan ramblings in the end. There is nothing wrong in believing in liberal cause, but to consider the other side as devil incarnate is a bit disturbing.
I don't understand the logic that just cause someone is in a political party doesn't mean they can be evil and subsequently vilified.
Chris Sacca is one of the few VCs that people outside of the SV bubble and even the tech world know and associate with the valley. He, along with Mark Cuban & potentially a few others will likely be part of the few of this era remembered many decades from now when history gets consolidated into a few figures, much like Gordon Moore of Intel & William Shockley of the Mountain View of the 1950's.
Mark Cuban got rich of one deal that probably shouldn't have happened in the first place. He got very lucky.
This looks like a really easy marker that we've topped out on unicorn/big secondary market. When the smart big players start to take their chips off the table you can be sure this thing has peaked.
These types of comments are always hilarious. Really? You think we've topped out on 1bn dollar companies in the year 2017? AI, Self Driving Cars, Improvements to Flying, SPACE!? You honestly think there's nothing left to invest in?
Earlier quoted context omitted.
As you know there is luck (of various types) involved for anyone who has ever gotten anywhere (even if family connections as a separate benefit there is also luck). You have to give Mark credit for doing a good job of snowing and playing Yahoo that does take skill. Look if Steve Jobs had grown up in, say, Iowa USA, had strong family ties that prevented him from even thinking about moving to Silicon Valley, where woul…
You've got me thinking about the interplay of natural ability, hard work, luck and success. How unsuccessful could someone be if they were extremely talented and hard-working, but had little luck. How far can luck push someone with no ability or desire? I suspect luck plays a greater role in our lives then we are willing to admit, even though it can be mitigated to some effect.
Homeless level bad.
> How far can luck push someone with no ability or desire?
Extremely far.
I have seen examples of both, luck is a huge factor, and it comes in many guises (timing, circumstances, meeting the right person and so on).
Has anyone else noticed that a bunch of people leaving the investing scene/liquidizing in the past year are part of the same circle? Specifically Sacca, Tim Ferriss, and Richard Branson? I'm certain there might be more people.
Well, perhaps. But Sacca is great at it. Ferriss pulled out because he's no good at it. (Easier to be a charlatan in books rather than investing).
Chris Sacca's background story is little known and he talks about it at length with Jason Calacanis. The part about him losing millions while still at university is as shocking as his recovery from the setback is amazing. Check out https://www.youtube.com/watch?v=6VOQnK7O2To
> During law school, Sacca used his student loans to start a company which was unsuccessful and used what was left to start trading on the stock market. By leveraging trades for significant amounts (discovering a flaw in the software of online trading brokers)[15] he managed to turn 10–20 thousand dollars into 12 million dollars.[15] Eventually, when the market crashed, Sacca found himself in debt with a four million dollar negative balance. He negotiated to have it reduced to just under 3 Million and by February 2005 it was completely repaid. [15]
[15] http://www.financemagnates.com/forex/brokers/chris-saccathe-...
My understanding is that Chris isn't the nicest guy in the world, so perhaps he's doing entrepreneurs a favor by backing other VC's. Some of his capital will still be out backing startups, but their founders won't have to put up with him personally.
A very nice write up ruined by very partisan ramblings in the end. There is nothing wrong in believing in liberal cause, but to consider the other side as devil incarnate is a bit disturbing.