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From the podcast: "The herd mentality caused us to all run for the door..." -- There was an N-way Prisoner's Dilemma that just played out in the Silicon Valley startup networks.

And the startup networks in aggregate -- Failed! There was a reference made to the movie, "It's a Wonderful Life." The Silicon Valley startup scene failed like a mob, where the Building and Loan crowd succeeded as a community.

Maybe that kind of thing only exists in the movies? Well, not quite. But it is rare.