11/14/2013

At this point, saying that entrepreneurship is like poker may seem cliche, writes Paul J.H. Schoemaker with Viraj Narayanan, both of Decision Strategies International. However, startup founders, like expert poker players, tend to focus on long-term success and understand probability. "[Y]ou won't last long in poker if you keep expecting to draw an inside straight, and you can't build a business by betting the company on becoming the next Instagram or Twitter," they write.

Related Summaries