On this episode of FYI, ARK’s Chief Futurist Brett Winton and Venture Capital Research Associate Chase Prather welcome Ilya Strebulaev, author of "The Venture Mindset" and a professor at Stanford University. With over 20 years of experience teaching private equity principles and venture capital, Ilya shares invaluable insights from his book. The conversation covers the unique decision-making approaches of venture capitalists, the importance of embracing uncertainty, and practical applications of the venture mindset for corporate leaders and investors. "Conviction beats consensus every single time in the venture capital environment." - Ilya Strebulaev Key Points From This Episode:Introduction of Ilya Strebulaev and his background.Discussion on the importance of a venture mindset in decision-making.The concept of "agree to disagree" and its significance in venture capital.Examples of successful and unsuccessful corporate venture investments.The role of charisma and resilience in identifying great founders.Differences between corporate venture funds and traditional VC firms.The impact of leadership and long-term incentives on corporate innovation.The necessity of dynamic decision-making in uncertain environments.The future of artificial intelligence (AI) in venture capital and its limitations.The importance of structured decision-making processes in organizations.