"We spend so much energy thinking about the edge cases and what can go wrong." a16z GP Anish Acharya on his investing philosophy: "If you look at these product cycles, even all the little moral panics we've had over the last couple of years, the most recent one is the SaaS meltdown, SaaS apocalypse, but if you work at Adobe or Microsoft or Oracle, you've been through multiple product cycles, and you've seen that incumbents tend to actually get bigger, not smaller." "This is the reason insurance is so mispriced on the downside. People overestimate the probability of bad things happening and underestimate the probability that good things will happen." "We try to lean into that in how we invest." @illscience @PeterDiamandis @Abundance360(a16z)