and prompted me to write this post today
Negative Social Proof
. recounts some USV investments where most other firms passed -> “negative social proof. When nobody else likes the deal but you. That’s how you win big.”
"When nobody else likes the deal but you. That’s how you win big."
Fred calls investing when no one else will negative social proof. Also often described as being contrarian and right. Important reminder that investing is a second derivative game.