In venture capital, an investor's reputation is constantly on the line. A successful exit in one fund doesn't satisfy the LPs of a subsequent fund. This creates relentless pressure to consistently perform, as you're only as good as your last hit and can never rest on past achievements.

Venture capitalists thrive by adopting one of two distinct personas: the "in the flow" consensus-driver focused on speed and connections, or the "out of the flow" contrarian focused on deep, isolated work. Attempting to straddle both paths leads to failure.

Instead of viewing a contemporary's breakthrough with jealousy, see it as tangible proof that such moments are possible. This reframes competition into inspiration, fueling the patience and hard work required to be fully prepared when your own opportunity arrives. The key is readiness, not rivalry.

Simply keeping pace with peers is not a valid measure of success. If peers are taking excessive risks in a bubble, matching their performance means you were equally foolish. True skill is outperforming in bad times while keeping pace in good times.

When founders define success by external metrics like net worth or exit size, the target constantly shifts upward upon achievement. A $1 million goal becomes $10 million, and a single exit becomes a need for multiple. This creates a perpetual cycle of striving without ever feeling successful.

A major source of modern anxiety is the tendency to benchmark one's life against a minuscule fraction of outliers—the world's most famous and wealthy people. This creates a distorted view of success. Shifting focus to the vast majority of humanity provides a healthier perspective.

Wasting energy on envy is counterproductive. Winners are too busy building their own success to tear others down. This negative focus directly detracts from the effort you could be putting into your own venture, effectively stopping your progress while your competitors continue theirs.

Instead of being jealous of someone's success (the output), ask if you're jealous of their daily work process (the input). If you wouldn't want to live their day-to-day life, you have no reason to envy their results. This reframes jealousy into a compass for finding work you truly love.

The transition from a C-suite operator managing thousands to an investor is jarring. New VCs must adapt from leading large teams to being individual contributors who write their own memos and do their own sourcing. This "scaling down" ability, not just prior success, predicts their success as an investor.