[allenleee]

For people who want to dig into Founders Fund's philosophy:

FF's Bold bet: - Space X: Invest 10% of its fund in 2008. - Stemcentrx: Invest $300 million on Stemcentrx. AbbVie acquired Stemcentrx for up to $10.2 billion. Founders Fund owned about 16%.

> ...with much higher bar and conviction.

Agree. Here is a quote for it.

“The key to the strategy once we have conviction we are willing to invest a lot. So with Stemcentrx, over the multiple rounds of this company, we invested something like $300 million. It’s not enough to think something is going to be one of the most important companies on the planet you have to back it up. So, to me, venture capital is about having conviction and putting a lot of money behind it.” - Brian Singerman(GP of FF)