Many shoot an arrow and paint a bullseye around it.
There's a story Charlie Munger tells about the Shoe Button Prince. The Prince had cornered the market on shoe buttons in the 1920's. Shoe buttons were smallish ornaments one put on their shoes. From his success with the buttons, he extrapolated he could pontificate on any and all things--even those outside the realm of shoe buttons.
There's a story Charlie Munger tells about the Shoe Button Prince. The Prince had cornered the market on shoe buttons in the 1920's. Shoe buttons were smallish ornaments one put on their shoes. From his success with the buttons, he extrapolated he could pontificate on any and all things--even those outside the realm of shoe buttons.
That's your typical VC.