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1 of 9
從0到1 
第七章跟著錢走 
葉懿心(Cathy) 
2014.12.13
絕大多數成就集中在少數人 
80/20法則(帕列多定律) 
義大利經濟學家維佛雷多・帕列多發現: 
義大利80%的土地掌握在20%的人手裡,如同 
他園子裡80%的碗豆出自20%的碗豆莢
跟著錢走,冪次法則清晰可見 
f(x)=xp 描述周遭嚴重失衡的分配
創投幻想成功J型曲線的出現 
期待投資組合裡有爆發成長的公司 
創投投資組合 
的價值
現實是報酬率沒有常態分佈 
因我們活在遵循冪次定律的世界裡 
投資 
報酬 
公司 
排名
成功基金的最佳投資組合是? 
等於或甚至超過其他投資的組合 
列在『投資組合』裡的公司 
必須有在大規模市場成功的潛力
為何沒人看出冪次法則? 
投資的對象在未出現倍數成長初期 
都會長得極為相似(圖:P.124)
創業者請務必學會冪次法則 
思考行動落在80/20曲線的哪一段 
 全神貫注在最有利的市場 
 提出好的銷售策略 
 在關鍵時刻做出對的決策
END

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