The Consumer Hedge
Building a business is tough, whether you’re starting a brick-and-mortar store or an Internet startup. It’s stressful, it’s incredibly high-risk and frankly, the odds of you succeeding are much lower than your odds of failure. You have to go into it with the strong belief that the ultimate reward is in fact the journey itself, and not the proto-mythical Zuckerbergian success story.
Most people associate the word “startup” with a consumer-focused Internet company, because those are the companies that capture the attention of the public and become a part of the zeitgeist. As such, there’s a lot more focus and attention on that sector - both on the consumer level and on the investor level - as they are the riskiest but also the ones who have the potential to have the biggest success.
Everyone even remotely knowledgeable of the private equity world will...
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