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Podcast: How to Lend Money to Strangers
Episode: Growing a business in vitro
Description: The Dunning-Kruger effect is a cognitive bias where people with high ability on a given task tend to underestimate their competence, while those with low ability overestimate theirs. It's typically examples of the second half of that antithesis that make the headlines, but the first half is problematic, too, because sometimes the experts best placed to start a new business are the ones most held back by doubt. And that's why I love the controlled environment that In Vitro Capital has created to, essentially, employ potential founders to build businesses without all the unknowns of traditional entrepreneurship. And it...