[SilverBirch]

I find his rankings of which companies to invest in hilarious. It's like, take the attributes that you think will make a good solid company - experience in the industry, strong analytical skills, good operational skills. You know, the things we know for a fact are going to make a good solid successful company. Ok, take them, and throw them away. We're not interested in them. We're interested in variance.

I think fundamentally this suffers from the problem lots of VCs have right now. Cheap money meant that the correct investment strategy was to just pile money into high risk bets. I think this calculation looks very different without free money.