one thing we’ve learned about most billionaires is they arent very smart and surround themselves completely with ‘yes people’. And they also seem to have almost no ability to assess risk, like buying business that they personally know almost nothing about, like twitter and submarines.

One thing I’ve noticed from working at several tech companies is that people who present themselves as “entrepreneurs” are often just deficient in their appreciation of risk, but lucky so far. Risk is a kind of blind spot for some people, but if it comes with luck others will perceive them as bold rather than a bit deficient. To those who work with them, however, the truth is often obvious.