Comment on My General Operating Principles: 37 Principles for Making Hard Decisions by Taylor Pearson

Very true. I’ve been thinking about biz models lately and agree that looking for models with unbounded upside (high convex black swan exposure) is a real advantage most people don’t see.

One of Chris Sacca’s investment rules is “Give yourself a chance to get rich” (http://fourhourworkweek.com/2015/05/30/chris-sacca/) which essentially gets at the same thing.

The mistake I’ve made in the past though and that I see other people make is to mistake having unlimited upside with actually being in a...