Non-consensus & Right - in the world of FOMO

In the world of venture, the very best outcomes happen in the *non-consensus* bucket when you end up being *right* about your unique view.

It is the hardest thing to do - and getting increasingly harder than ever to be non-consensus and still play. Only a few investors truly have structures to even allow this.

Add today's FOMO-driven investing to this where most founders will say that their rounds move when they get their first termsheet - and you'd be hard-pressed to find anyone who is doing non-consensus investing.

In fact, it feels like there is not even an attempt at being non-consensus - and more the opposite where investors are letting others' conviction building drive their own deal flow and "what they should focus on".

I can attest to the efficiency of this but I worry about the effectiveness of it - short term and long term - because borrowed conviction is the biggest mistake in venture investing.

Founders have no choice though - other than hunting/hoping for someone who is ready to do non-consensus investing and focus on what others are not focusing on.
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