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Feb 23 2011

My friend, Mitch Wagner, lays out five things he’d do on his first day, if he were CEO of Linden Lab.

Now, that got me thinking. I already know what I’d do on my first day in that job, as recently I had a nightmare that this had, in fact, happened.

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“If we were ineptly plodding along, why aren’t there any competitors that have wiped us out by now?” asked Philip Rosedale during a talk with Mitch Wagner recently.

I’ve been meaning to write a followup to that, because it’s a question that I know the answer to.

Simply put, investors don’t – as a rule – put capital into things that don’t look like they’re going to succeed.

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