Venture Capital
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Platformonomics TGIF #81: February 21, 2025
Platformonomics TGIF is a weekly roll-up of links, comments on those links, and perhaps a little too much tugging on my favorite threads. Get Platformonomics Updates By Email Here is the obligatory NotebookML podcast of last week’s CAPEX analysis. This technology is remarkably good at capturing the essence of a text, even one dense with…
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Welcome to the Khakiocracy
A system of government closely related to both kakistocracy (the rule of the least competent) and kleptocracy (the rule of thieves), khakiocracy is the rule of venture capitalists, our Silicon Valley saviors. Self-appointed, self-assured and self-interested, these khaki-clad bros always have the answer, no matter how complex, novel, or unusual the situation. They can master…
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The Inflation-Adjusted Unicorn
Aileen Lee coined the term “unicorn” in 2013 to describe billion-dollar startups. The name was chosen because unicorns are “extremely rare, and magical”. Despite that scarcity, unicorns must be herded up to deliver the returns expected from venture capital. Once explicitly defined, unicorns became much less rare, as Goodhart’s Law predicts (“When a measure becomes…