On a 3-year time horizon, you’re competing against a lot of people.
But if you’re willing to invest on a 7-year time horizon, you’re competing against a fraction of them. By lengthening the time horizon, you can engage in endeavors you could never otherwise pursue. —@JeffBezos
The toughest part of this is fending off the questions from acquaintances and family asking “what you’re upto”. Best friends make things much easier tho.
Any recommendations on how to encourage this in an institutional context? Policymakers have notoriously short time horizons (as do all of us from time to time). Not easy to change human nature / incentives.
Agreed @sama and yet its one of the HARDEST things to do. Patience is more than a virtue, its one of the most valuable asset classes in existence. This is year 10+ in business and we're just now setting up for our first outside term sheet. #TrueGrit#PlayingForever