![]() ![]() (In practice, most of the older entrepreneurs I know seem to understand the problems with such sensemaking. Alas, I have not been able to do this to my satisfaction. Of course, my obsession was for instrumental reasons: how might you recognise a better framing when you found one? I’ll admit that I was a little naive here: I thought that if I could generalise the structure of this argument, I would be better able to recognise similar errors in the future. The form of the error is subtle, and therefore more difficult to detect the best description I have for it is: ‘perfectly rational, logically constructed, and not really wrong - but not as useful or as powerful as some other framing.’ I thought it was interesting because it represented a type of thinking error that you and I are likely to encounter in our lives. ![]() But in the months after our conversation, I continued to return to the author’s argument. My friend and I spent no more than 10 minutes discussing this piece. But I couldn’t begin to construct an argument that went against it. No, my unease stemmed from experience: I knew this wasn’t the right way to think about raising capital. The logical correctness of the argument wasn’t a problem. I agree with all the base ideas, and I found myself nodding to the intermediate propositions.
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