Over the long term, poker serves as a testament to the concept of ‘strategy over luck’. In poker, Sarah clarifies, ‘you are trying to have a decision-making process that leads to the right outcome in the majority of situations.’ While there are games where a player wins after getting some ‘ridiculous card on the river,’ Sarah loves that experienced players will not congratulate the winner on their lucky hand. Instead, she says, ‘they actually congratulate you because they can tell that you have played smart poker.’
This is why she believes poker has a lot to teach when it comes to accepting mistakes and disappointments. Sarah has embraced this lesson, acknowledging that ‘even if you have the right process and you win most times, you are always going to have these sorts of spectacular painful failures. Poker teaches you to just really ignore those.’
“Even if you have the right process and you win most times, you are always going to have these sorts of spectacular painful failures. Poker teaches you to just really ignore those.”
Despite the layers of thought and preparation that Sarah goes through when making decisions, mistakes and failures are unavoidable, particularly in venture capital. Instead of lamenting over missteps, Sarah focuses on developing a decision-making strategy for sustained success.
Sarah Cone is the founder and Managing Partner at Social Impact Capital. Referred to by Forbes as a ‘risk-taker who has proven herself,’ Sarah is an experienced venture capitalist who has proven that impact investing can generate strong financial returns while producing a positive effect on the world. Sarah invests from the earliest stages in founders that have innovative and impactful solutions to the world’s most pressing challenges.
- Referencing Secretary Donald Rumsfeld’s famous concept of ‘unknown unknowns.’ ‘Defense.gov News Transcript: DoD News Briefing – Secretary Rumsfeld and Gen. Myers, United States Department of Defense (defense.gov)’. February 12, 2002. https://archive.ph/20180320091111/http://archive.defense.gov/Transcripts/Transcript. aspx?TranscriptID=2636