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YC's investment thesis is that the whole game of investing in startups boils down to investing in big stars. If you got into Google with an early stake, you won. Medians don't matter: what matters is how many big stars you caught since they'll pay for the rest many times over. So I think PG is measuring the same thing he's trying to make.


Though I wish we could claim credit for discovering that, it's really the thesis of every startup investor.


So many confuse mean with median. It's why lotteries work. The mean return might be positive. But the median is always $0.


Alright, top valued then. Or the median/average from the top 10%. Shouldn't that give okay results?




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