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Irving, I wonder if some of this is due to the way that we think about risk. According to Kahnemann and Tversky, a team becomes more risk-seeking when it has less to lose and the most risk-seeking when they are "underwater". For a team that's gotten the funding, they will be more risk-averse because they have the money and the research and don't want to lose it. For the team that didn't get the funding, they need to do something really interesting! From this, you'd expect the really interesting thinking to come from those with nothing to lose!
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Jul 26, 2020