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  <title>Investor Stories 488: Losing Conviction, Overpaying for Discounts, and Selling Too Early — Lessons from Volition, Acadian, and Interplay (Cheng, Black, Peter Davis)</title>
  <description>  On this special segment of The Full Ratchet, the following Investors are featured:   Larry Cheng of Volition Capital  Ben Black of Akkadian Ventures and Powerlaw Corp  Mark Peter Davis of Interplay   We asked guests to tell the most important lesson they've learned in their career.  The host of The Full Ratchet is&amp;amp;nbsp;Nick Moran&amp;amp;nbsp;of&amp;amp;nbsp;New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.  We’re proud to partner with&amp;amp;nbsp;Ramp, the modern finance automation platform.&amp;amp;nbsp;Book a demo&amp;amp;nbsp;and get&amp;amp;nbsp;$150—no strings attached.&amp;amp;nbsp;&amp;amp;nbsp;  Want to keep up to date with The Full Ratchet?&amp;amp;nbsp;Follow us on social. You can learn more about New Stack Ventures by visiting our&amp;amp;nbsp;LinkedIn&amp;amp;nbsp;and&amp;amp;nbsp;Twitter. </description>
  <author_name>The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified</author_name>
  <author_url>http://fullratchet.net</author_url>
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