Substrate

how venture capital, in its essence, is a call option and how that explains the odd ways startups sometimes behave. I’d write about, in my most financially-ambitious piece, how the maniacal focus on the upside is why companies build their technologies as generally throw-away, how people constantly change jobs after 2-3 years, and other such things. ​ But one of the reasons I had moved to the U.S. more than 15 years ago was [...] a sense of sanity. A place to not just live, but breathe.