OpenAI and the Tooth Fairy
Our friend and investor at ffvc, Katie Weiss, told a story in her weekly newsletter about her six-year-old daughter who had decided that the tooth fairy isn’t real, and how Katie used logic and Sora to “preserve the magic a little longer.”
“That whole exchange made me think about another type of “fairy tale”: projections. As a venture fund, we ask for them, fully aware that we’re often being handed a story only loosely tethered to reality. So why do we still value them? Why, like at home, do we try to keep the magic alive?
“Because the magic isn’t in the numbers, it’s in the mindset behind them. Hidden in those fictional spreadsheets are real signals: how a founder thinks, what they know, how they believe their business will evolve, and whether their vision holds up under pressure. If you know where to look, there’s a tremendous amount to learn from made-up numbers.”
