There's a persuasive argument that financial engineering helps secure global trade by allowing producers and consumers to unbundle risk, and it finds its nemesis in the potato.
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The thing that I find so hard about venture capital is that you might be right about a company, but if you make your investment at the wrong time, you can lose all your money. You can be right about the destination but wrong about the timing, and it doesn't matter that you were right about the destination.
Invest Like the Best with Patrick O'Shaughnessy
Most of us, most of the time, make decisions incrementally. We don't blow up our lives — we make small adjustments, trying to improve our circumstances bit by bit. But some people, at some point, feel the urge to do something dramatic: quit a job without another one lined up, leave a relationship, move to a new city where they know no one.
Hidden Brain
The venture capital business is one of the few endeavors where you can be wrong the vast majority of the time and still be considered successful. The reason is that the gains from the rare, extraordinary winner so thoroughly dwarf the losses from all the failures combined that the overall outcome can be spectacular.
Invest Like the Best with Patrick O'Shaughnessy