Maybe FTX was the real poster child for 2021’s startup excess

You don't ask who the seat is on a rocket. So goes one of Silicon Valley's favorite platitudes, one that you can trace back to at least two of the valley's most well-known figures.

If you get a chance to work on something new and big, you just say yes and sort out where you fit in the organization.

In other circumstances, the chestnut can be used. If I was building a Very Cool Company that was perhaps set to break out and become the Next Big Thing, you might be more interested in getting some of your capital into the business than in how the business is run.

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It's possible to make a big bet on the future without knowing all the facts. It can, but not. The rocket seat philosophy is often over-applied. It can be used to make choices appear reasonable instead of being bold in the face of uncertainty.