Larry Cheng
@larryvc • 69,112 subscribers
Co-Founder/Managing Partner, Volition Capital. Journaling general business thoughts so I don't forget them. Christian. Harvard. Several private/public boards.
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During this tidbit on the power law from my chat with Mike Gelb on the Consumer VC podcast, I was thinking about a conversation with one of my partners when we exited Chewy in 2017. He noted that Chewy had returned more than every other investment in our history combined. And, I responded that if we do our job well, there would be another investment down the road that would return more than every other investment in our then history + Chewy combined. That's how the power law works. He looked at me like I was nuts - I stand by it.
Larry Cheng33,004 views • 10 months ago
“Perfection is impossible. In the 1,526 singles matches I played in my career, I won almost 80% of those matches. Now, I have a question for you: what percentage of points do you think I won in those matches? Only 54%. In other words, even top ranked tennis players win barely more than half the points they played. When you lose every second point on average, you learn not to dwell on every shot. You teach yourself to think, ok, I double faulted, it’s only a point. I came to the net and got passed again, it’s only a point. Even a great shot, an overhead backhand shot that ends up on ESPN’s Top 10 Play list, that too is only a point. Here’s why I’m telling you this, when you’re playing a point it has to be the most important thing in the world, and it is. But when it’s behind you, it’s behind you. This mindset is really crucial because it frees you to fully commit to the next point and the next point after that – with intensity, clarity, and focus.” - Roger Federer
Larry Cheng52,566 views • 2 years ago
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