Venture investors appear to defy the dominant scientific approaches
Like it or not, we live in a quantitative world, and it gets more so every day. Manufacturing defects are measured to 99.99966% accuracy. Automated trading algorithms evaluate businesses, prices, alphas, betas, libraries of ratios and make trades based on picoseconds of marginal arbitrage.
In 2006, an estimated 40% of trades on the London Stock Exchange were conducted by robotic intelligence. US estimates are closer to 80%.
In this world of empiricism, data and calculation, the job of a venture…
