Ironies of Luck

Collaborative Fund (03/14/2018)
  • Investors and entrepreneurs spend a lot of time evaluating risks, but little to no time analyzing luck.
  • Luck can create a false sense of intelligence and entitlement that makes us think we’re solely responsible for past successes.
  • While failure and setbacks humbles us and can spark self-evaluation, luck pushes many into wasting time and resources trying to replicate a one-off event.
  • We should evaluate past successes for “luck-adjustments” to see if they’re worth trying again.