

VCs Also Succumb to Cognitive Biases - diego
http://dbasch.posterous.com/vcs-also-succumb-to-cognitive-biases

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gruseom
_Gandhi said: "First they ignore you, then they laugh at you, then they fight
you, then you win."_

Nope. He didn't. The line comes from a 1914 (or so) speech by a union activist
named Nicholas Klein. It hopped to "Gandhi" for the same reason the wording
got more jazzy over the years - better for propagation.

Interestingly, there are signs that the correct attribution has started to win
the internet.

[http://www.google.com/#sclient=psy-
ab&hl=en&site=...](http://www.google.com/#sclient=psy-
ab&hl=en&site=&source=hp&q=gandhi+%22nicholas+klein%22)

~~~
diego
Fixed, thanks.

[http://www.csmonitor.com/USA/Politics/2011/0603/Political-
mi...](http://www.csmonitor.com/USA/Politics/2011/0603/Political-misquotes-
The-10-most-famous-things-never-actually-said/First-they-ignore-you.-Then-
they-laugh-at-you.-Then-they-attack-you.-Then-you-win.-Mohandas-Gandhi)

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mathattack
Was Fred Wilson being literal, or just encouraging folks to be contrarian?
Contrarianism does have some empirical support. (Low PE stocks have
outperformed high PE stocks over long time horizons)

