<ul data-eligibleForWebStory="true"><li>One company often defines the outcome of an entire portfolio.</li><li>Venture returns are not built on averages but on outliers like Airbnb, Uber, and Stripe that redefine the industry.</li><li>In venture capital, the focus is on identifying companies with power-law potential for outsized returns.</li><li>The majority of returns in venture capital usually come from 1–2 standout companies.</li><li>Success in venture capital involves identifying outliers with the capacity for extreme impact.</li><li>AI is accelerating power law dynamics by enabling faster scaling and automation in startups.</li><li>Cultural mindsets in various regions influence venture outcomes, with some emphasizing steady growth over extreme returns.</li><li>Companies like UiPath, Spotify, Checkout.com, and Revolut showcase how outliers can emerge from different regions.</li><li>Investors and founders should focus on breakout potential and seek partners who understand the goal of reshaping the industry curve.</li></ul>

In Search of the Outlier: Why Venture Returns Aren’t Built on Averages

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