The writer experimented with a Dominant Assurance Contract, but didn't reach the required number of funders and lost money.
The writer is trying a real-world Dominant Assurance Contract for hosting weekly dinners, where participants can pay to attend.
Participants in the dinner contract can pay at least $20, with the writer hosting the dinners if $700 is raised, or providing a partial refund if the target is not met.
Venture investing can be unstructured with limited data, requiring investors to develop independent conviction in opportunities.
Successful investors use mental models to structure thoughts and make better decisions, developing a unique approach based on a latticework of models.
Leveraging mental models inspired by seasoned investors can significantly impact professional growth and decision-making, creating structure in the chaotic venture environment.