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Phantom Risks

Phantom Risks

When investors look at an innovative new project, they may get very excited about the vision. But smart investors will quickly look for all of the ways the project might go wrong, and how they could lose capital. Unfortunately, investors are rarely experts in the...
Financing Bold Innovation

Financing Bold Innovation

A frequent question we get at FTL is how to finance large, innovative projects. Real innovation is exciting. But it can also be scary to investors; they may not have a perfect view of what success looks like—but can always imagine a lot of failure modes. And scary...

Decision Making: The Missing Link in AI

Recent advances in AI have taken the world by storm. OpenAI’s release of ChatGPT introduced the world to Large Language Models, which do a great job of mimicking interaction with people. Ask it a question, and it seems to “get” you, and generally gives a pretty...

Bonjour!

In the US as well as in the UK, I hear complaints that the French are rude—particularly Parisians in the service industries, such as restaurant waiters. On the other side, Parisians sometimes make the same complaint of the tourists who come to town—and there are a lot...

Finding the Counterfeit Coin

I wrote about a brain teaser I encountered as a kid and challenged you to figure out if it has a solution, and if so, what that solution is. That brain teaser works like this: You have 12 identical coins. One of them is counterfeit. The counterfeit coin may be heavier...