Skill versus luck

On 2006-11-21 16:37:00, Allan Engelhardt wrote in CYBAEA Journal:

When it comes to being an entrepreneur or venture capitalist, is it better to be lucky or good? According to a new working paper, Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs, skill carries the day most of the time. "We show that entrepreneurs with a track record of success are more likely to succeed than first-time entrepreneurs and those who have previously failed," the authors observe. "Similarly, more experienced venture capitalists are able to identify and invest in first-time entrepreneurs who are more likely to become serial entrepreneurs."

The 42-page paper is a $5 download. Be warned that the shopping system is very slow.

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Recent blog entries

R: Eliminating observed values with zero variance

On 2010-03-08 14:46:00, Allan Engelhardt wrote in CYBAEA Data and Analysis:

I needed a fast way of eliminating observed values with zero variance from large data sets using the R statistical computing and analysis platform. In other words, I want to find the columns in a data frame that has zero variance. And as fast as possible, because my data sets are large, many, and changing fast. The final result surprised me a little.

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