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We were in Little Rock. We were assessing a very important issue. In the midst of our discussions, we were receiving urgent inquiries from The Washington Post asking about interviews.
If even in science there is no a way of judging a theory but by assessing the number, faith and vocal energy of its supporters, then this must be even more so in the social sciences: truth lies in power.
Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.
After assessing what's in your closet, make a list of what you need. Not want, but need. Write down the basics missing from your wardrobe. It could be a classic white shirt, a trenchcoat, or the perfect little black dress. Whatever the blank spots, write them down. This will be your reference for shopping.
If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing.
Human passions, like the forces of nature, are eternal; it is not a matter of denying their existence, but of assessing them and understanding them. Like the forces of nature, they can be subjected to man's deliberate act of will and be made to work in harmony with reason.
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