Interesting post from Fred Wilson on applying the poker analogy to the VC business.
I think the section on folding, and it's relationship to pain and experience is the best part of the article:
In poker folding is simple. In the VC business, it's not that simple. Sometimes you can fold by selling the company or the assets. Other times, you need to shut the business down. It's not easy and many inexperienced VCs make the mistake of playing the hand out because they don't want to face the pain of folding. That's a bad move...
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