Associate editor: Phillip Phan Authors: Dimo Dimov, William Forster Moderators: Ronald K. Mitchell, John E. Mathieu Comments editor: G. Thomas Lumpkin Mitchell, Ron: We will start with a brief flyby of each of the two papers. The first paper is Dimo Dimov and Hana Milanov’s ‘The interplay of need and opportunity in venture capital investment syndication.’ Then there’s Matt Hayward, Bill Forster, Saras Sarasvathy and Barbara Fredrickson’s ‘Beyond hubris: How highly confident entrepreneurs rebound to venture again.’ Dimo, a quick flyby, please. Dimov, Dimo: First of all, I would like to acknowledge my co-author, Hana Milanov in Greece. Hi, Hana. Very quickly. We looked at the alliance formation literature and it says, ‘First form alliances because they have some need, but also alliances need to have shared opportunity (a reason for being).’ In other words, have a reason to be able to attract partners. We wondered about all those cases where alliances are actually not formed. This viewpoint opens up a couple of interesting questions: ‘Can you have a need for alliances, but actually not be able to attract partners; or can you be able to attract partners but actually do not need them?’ So these are particularly fluid and disjointed at the level of the individual project. Thus, it brings up the question of interplay. Our context is the venture capital industry, which is particularly relevant because venture capital firms continually make investment decisions on a series of projects (and we can actually see what they do...
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