Pushing for the peak: the idea that power law returns are an encompassing category for venture capital performance factors is not a stable classification, but rather a descriptive observation that masks the true levers of action.
Focusing on this distribution is like admiring the shadow without understanding the object casting it; it does not go beyond the adequate.
For a Family Office in Hong Kong, what matters is manipulating the underlying factors — the quality of decisions and the upper limit of ROI — to generate extreme returns.
For example, with capital flows via Stock Connect, a superior quality decision targeting a high-potential Chinese tech company can unlock a power law return, whereas a simple understanding of the distribution guarantees nothing.