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I believe your point about Buffett is spot on. He's mentioned 'circle of competence' philosophy a number of times. Although I'm not sure if he meant specific companies, but rather industry trajectories. I also think the post's treatment of Buffer was in poor taste.

Other than that, I was nodding my head all the way through this :).

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My initial comment comes across a little too strongly against the article because it singles out one thing I found to be highly misleading. I think, ultimately, SV investors don't encourage much innovation. I wish there was more capital available to fund innovators such as Musk. However, I think the article's usage of hyperloop as an example of important ideas that don't get funding is premature, to say the least. There needs to be a lot more debate about the pros, cons, and legislative ramifications of hyperloop before championing it as something people should invest in.

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