Go big or go early

December 1, 2023 (1y ago)

There’s only two ways to make large returns - go big or go early

Either be so early that you can charge a large premium because there is little serious competition. Or invest so much that a small return is a big volume.

Being early risks chasing a dud. Failure comes with wasted time and effort and some wasted capital.

Going Big risks over-investing and hanging on too long to recover. Failure comes with huge capital losses.

None of them is easy. But in general entrepreneurs have time and corporates have capital.

Which is why corporates mostly try to leave the “go early” risks to the entrepreneurs and try to swoop in with capital on the survivors.