Ramit Sethi has called this the “Briefcase Technique,”saying that the best job applicants wait for a moment right after the pleasantries have ended and the basic information about the position has been explained. It is here, after they have answered just enough questions to establish comfort and trust, that they reveal how much research they have done prior to showing up, by explaining all the things they’ve learned about the business, how they intend to improve it and exactly why they’re the right person for the job. This move, done politely but confidently, immediately separates them from all the other potential hires.
Venture capital should never have become the standard way for us to fund new businesses. As an asset class, it’s uniquely designed to fund disruptive innovations. It does this by funding ventures that are likely to fail, but — if successful — can result in outsized outcomes. In other words, it’s a ‘home run’ based model. For a venture capitalist, seeing 6 or 7 out of 10 portfolio companies fail is part of the playbook. In fact, if VC’s aren’t seeing enough failures in their portfolio, they take it as a sign that they may not be taking enough risk (as Babe Ruth once said: “every strike brings me closer to my next home run”). Good VC’s understand they aren’t looking for a ‘normal distribution’ of outcomes in their portfolio — they’re looking for the “fund maker”. Or in other words, the unicorn.