It's really am issue with problem of induction writ large for measuring VC returns w/ averages(say for ROI/ROR(Like this better)) asking for averages when the entire point is that averages are likely not stable for comparisons.
Do averages of returns across VC stay stable even if they are supposed to manufacture black swans, which is what it actually is, and not "Unicorns".
Also most people calling it Unicorns is probably an indication that that segment of detractors is undereducated and should be ignored as there are plenty of other more accurate terms.
If the means are an irrelevant metric to compare across VC's/YC-Like seed funding groups, then we should look for a more stable metric to compare performance as in this field and in the market, as always, the past is not indicative of future performance.
This is really difficult for the human mind to perceive isn't it? Nevertheless, let us hold still, but still make haste.
Do averages of returns across VC stay stable even if they are supposed to manufacture black swans, which is what it actually is, and not "Unicorns".
Also most people calling it Unicorns is probably an indication that that segment of detractors is undereducated and should be ignored as there are plenty of other more accurate terms.
If the means are an irrelevant metric to compare across VC's/YC-Like seed funding groups, then we should look for a more stable metric to compare performance as in this field and in the market, as always, the past is not indicative of future performance.
This is really difficult for the human mind to perceive isn't it? Nevertheless, let us hold still, but still make haste.