Episode Details

Charlie Munger accused venture capitalists of screwing their investors, then called the business legitimate if you do it right. Two strategies sit behind that contradiction, one betting on what changes and one on what endures, and the choice between them turns on which fits you.

Featuring: Paul Graham, Niels Bohr, Charlie Munger

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Chapters:

(00:00) Bohr on profound truths
(00:06) Munger on how venture capital makes money
(00:29) Buffett bets on what customers still want
(00:56) Paul Graham's math for funding many
(01:33) Amazon picks its moment and its constants
(01:47) Bezos on what will stay the same
(02:12) Two strategies that both work

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