In the last two weeks, I’ve been ruminating on a post from Sam Altman:

“A thing often in common among great startup investors, founders, and researchers:
Trading making a lot of small mistakes in exchange for getting a few giant wins.
(Surprisingly many people seem to prefer a few big mistakes in exchange for a lot of small wins.)”

It’s a simple observation, but one that cuts to the heart of entrepreneurship and venture capital.

While most of the world minimizes risk, every great enterprise exists because someone once chose to make a deliberate, calculated leap into uncertainty. At its core, venture capital is the business of taking intelligent risks alongside outlier founders. We back those who see possibilities where others see problems, and who lean into the unknown with enthusiasm and conviction.

We operate without perfect information. Our advantage lies in interpreting weak signals, forming hypotheses, making judgments, and acting before consensus. By the time data tells a compelling story, the early opportunity has often become obvious and, therefore, often unavailable. The business of venture is about identifying those rare asymmetric opportunities where the upside meaningfully outweighs the downside and having the courage to act before the world agrees.

The willingness to move early and with conviction is what differentiates great investors and attracts exceptional founders. Outlier founders seek partners who not only tolerate uncertainty but also share their optimism for what’s possible and work to convert potential energy into progress and impact.

Company building is also an exercise in risk-taking. Every meaningful decision to start, hire, launch, or pivot carries uncertainty. Progress requires courage, and courage often looks like a series of small mistakes on the path to a few transformative wins.

The future belongs to those who see opportunity where others see obstacles, who imagine solutions when others see risk, and who dare to turn that imagination into reality. So what intelligent risks are you taking this week?