A friend of mine, who works at one of Europe's top venture LPs, joked this week: 'Aren't you a bit overeducated for throwing darts in early-stage tech?' He knows, of course, that this is far from the truth and how hard it is to drive great fund performance over and over again. These days it might sometimes look easy with public tech stocks surging, and some private tech companies raising monster funding rounds.The Power-law distribution. The Loss and Win Ratio.Early-stage venture investing is t
