
The Mind-Boggling Ascent of Amazon and Jeff Bezos - hvo
https://www.nytimes.com/2017/07/28/your-money/amazon-jeff-bezos.html?ref=business
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breck
> "A very small group — 4 percent of all publicly traded stocks — account for
> all of the stock market’s net gains from 1926 through 2016, he found."

Very interesting. The black swan nature of angel and VC investing is
frequently talked about, but my dumb brain never made the logical connection
that the public markets were the same way (and that 1/25 of the companies
account for all of the returns, and 24/25 are basically duds).

