Hidden in this exercise – and perhaps more important – is the challenge of finding companies at the right side of the distribution chart. In my hypothetical $100M fund with 20 investments, the total number of financings producing a return above 5x was 0.8 – producing almost $100M of proceeds. My theoretical fund actually didn’t find their purple unicorn, they found 4/5ths of that company. If they had missed it, they would have failed to return capital after fees.  Even if we doubled the number of portfolio companies in the hypothetical portfolio, a full quarter of the fund’s return comes from the roughly ½ of a company they invested in that generated 10x or above. Had they missed it, they would have produced a return that roughly approximated investing in bonds – not the kind of risk adjusted return they or their investors were looking for.

“John Stuart Mill explains it very well. He said, ‘The source of everything respectable in man, either as an intellectual or as a moral being, is that his errors are corrigible.’

As America faces a meat shortage that may last months, it's an opportune time to revisit one of history's great carnivores. While Charles Darwin is best known as the mild-mannered gentleman behind evolutionary theory, he was also a particularly adventurous and indiscriminate eater.SubscribeHis exploits began at Cambridge after he joined the Glutton Club, a group dedicated to eating "birds and beasts...before unknown to the human palate." As part of the group, Darwin ate hawk, bittern, and a brown owl, which was so unpleasant that the group disbanded. "Indescribable," Darwin noted.​ a.image2.image-link.image2-305-487 { padding-bottom: 62.5%; padding-bottom: min(62.5%, 304.375px); width: 100%; height: 0; } a.image2.image-link.image2-305-487 img { max-width: 487px; max-height: 304.375px; } It was once Darwin began his travels aboard the HMS Beagle that he really came into his own, however. His meals included:Puma, "remarkably like veal in taste"Armadillos, "taste & look like duck"Giant tortoises, "very good" thought Darwin, though he preferred the "capital soup" made out of younger tortoises. As an aside, Darwin was far from alone in his enjoyment with many sailors considering it "the most delicious food."A "twenty-pound rodent" thought to be an agouti, which Darwin described as "the very best meat I have ever tasted."

In the opening we mentioned some visionaries of the past. To those could be added many others – Ivan Sutherland, Seymour Papert, Vannevar Bush, and more.

Make most Anki questions and answers as atomic as possible: That is, both the question and answer express just one idea.