“ It’s a corollary of Gresham’s law that bad investment drives out good. Suppose you’re thinking about investing in software or green tech or something else…. and suppose you know the government’s about to dump a lot of dumb money in the field, well then you don’t invest because someone who’s good at grants but probably not good at software or green tech or whatever is likely to wipe out the market for whatever you were going to invest in. If you’re going to invest at all, you try to figure out who’s going to get the government money and you put your money there. In other words, the smart money ends up front running the dumb money. Not good.
Feb 24
Comments (View)
14 notes
-
simseo liked this
-
cto reblogged this from fred-wilson
-
exmilitary reblogged this from fred-wilson
-
pegobry reblogged this from fred-wilson
-
briantan liked this
-
littlemiss liked this
-
radarchive reblogged this from fred-wilson
-
devincastro liked this
-
whatson reblogged this from fred-wilson
-
hipsterdiet liked this
-
aaronindenver reblogged this from fred-wilson
-
mikehudack reblogged this from fred-wilson
-
christmasgorilla liked this
-
rafer liked this
-
fred-wilson posted this
