[EFreethought]

Son made most of his money with Alibaba. I think he made 500x or 1,000x his original investment. Absolutely crazy.

Almost everything he has done since then has lost money. When I read that he is investing in something, I just assume it will end badly.

[gottorf]

Isn't that basically the venture capital model, though? Your winners go many times X, and the losers become worthless.

[mrandish]

Mayoshi has made a lot of bets since Alibaba. Almost all of them have tanked. Over this amount of time and bets, he should have more winners.

[EFreethought]

At some point, a good VC would have a second winner.

And if that is the VC model, then are the VCs smarter than everybody else?