@phil

one of the biggest psychological hurdles the base team will need to overcome is getting people comfortable with permanent loss of capital this is just not something that the average retail investor is used to. it’s more akin to gambling then investing, except the odds aren’t published and there’s no regulatory body to police bad actors. most people want to park their money in something that won’t go down in value, even if that means a lower rate of return. swinging for the fences requires a much different mindset. vcs and professional investors are comfortable with this risk because they know that one big winner can make up for a lot of losers. but if you’re investing from a small base of capital and assume you can rollover your losing bets into winners, you will have a rough time adopting the new model

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