Open AI investor Vinod Khosla explains his venture capital philosophy
The founder of Khosla Ventures and a well-known venture capitalist said that he does not care about the criticism that OpenAI’s valuation is too high. Vinod Khosla says he never feels anxious. The following is the core summary of the interview, all in Khosla's original words, and the content has been condensed and edited: About option value investing I often call my investment model option value investing. If this investment ultimately fails, you will lose all your principal at most; but once the project is successful, the return can be five times, ten times, a hundred times... I even hope that OpenAI can bring a thousand times or even higher returns. Not everyone has to copy my investment approach, but if one aims high and wants to accomplish great things, one has to take risks. If something was easy, someone would have done it long ago. On raising capital gains tax I think the current tax system has serious flaws, especially when looking at the artificial intelligence industry. In the future, most of the new value will flow to capital rather than ordinary workers. I think a fundamental reform is worth exploring: unifying the capital gains tax and ordinary income tax rates so that there is no distinction between them. To be honest, people will always have doubts and can never be 100% sure whether their choice is right, but I will never stop moving forward. I have never felt pressure or even understood what pressure feels like.