What is an entrepreneur's 'ambition'?

“Insatiable ambition”

It's a word that's displayed in large letters on the website of BASS Ventures, but it's a really difficult and ambiguous word.

We have thought deeply and discussed internally about the question that founders always ask, "What kind of founders does BASS Ventures invest in?" There are so many good things and good words in the world that it was harder to decide what the absolute essential elements were, and this is the word that remained after a long conversation.

“Ambition”

It sounds really good, but it's an abstract word. Let me tell you what it is and how it connects with the entrepreneurs Bass is looking for.

The Paradox of Diminishing Marginal Utility Created by Small Successes

Just a pleasant imagination: Let's assume that the company I created is generating billions of dollars in revenue per year, and that I can sell it for hundreds of billions of won if I want to and cash it out. In such a situation, anyone can predict to some extent the economic rewards that will be given to me. In such a situation, the question, 'Can I be more destructive and persistent in wanting growth?' will be a concern for us. (If you have no worries at all even after imagining this, you should come to BASS Ventures right now!)

This kind of worry is not strange or bad. Rather, it is extremely normal. Because the amount of money needed for humans to lead a rich life cannot help but converge to the law of diminishing returns . To put it simply, no matter how much money you have, you can't wear five pairs of shoes at once or go to a Michelin restaurant six times a day.

The more accumulated performance, the smaller the increase in utility.

It is not a sense of limitation, but growth beyond a certain level can cause a sense of general utility decline. It may be a wonderful retroactive result that my social status grows as the company I created grows, but at the same time, it also rapidly expands the base surface that I touch with the world. The base surface that I touch increases exponentially, which means that the probability of something that I cannot control or that will cause me pain also increases . If you think about successful businessmen that we commonly know, you can easily recall that their success and growth were simultaneously painful to them.

Growth beyond a certain level may result in a decrease in general utility.

Entrepreneurs with unquenchable ambition never stop

However, there are a small number of people who fundamentally do not agree with what I am saying above.

It’s not that they don’t have the pain of growing, nor that they don’t know the negative effects of personal utility due to growth. Rather, they know the pain of the process of starting a startup better than anyone else, so they know what will happen in the future, and at the same time, they know that there will be greater difficulties than what I have experienced so far. However, they fundamentally cannot sympathize with the above story. This is because “something else” is bigger and more important to them than that pain. It is an emotion called by many words.

•

Competitive spirit , a strong desire to never lose to anyone

•

Expansionism , the desire to spread the meaning of myself and my organization infinitely in this world.

•

GRIT , something deeply engraved in the mind that never gives up until you achieve what you want to do.

These are the things. These feelings are closer to a more primal thirst and longing than feelings . Is there a 'Why' for these longings? If I try to explain them, I can, but even if I go through Why - Why - Why, it's probably something that can't be explained in the end . We call it "ambition" in general.

It's also good to think about it as an example. Coupang, now a 50 trillion won company, may be working harder than most early-stage startups (you can feel that way when you look at their services). Where does their desperation come from, having already shown and achieved something so incredible? There are many reasons, but I think it starts from the unquenchable thirst and ambition of someone within the company. And that would be the founder.

Coupang's unstoppable growth (Article: Daily Today, Photo: Coupang)

Sometimes, we hear CEOs who we have invested in say, “Now it’s time to start the business,” even though they seem to have achieved quite a bit in a short period of time. We think that the power to keep going despite the certainty of future pain, that innate human desire that makes it impossible to stop, is “ambition.”

Again, if you are thinking, “Why am I writing such an obvious story at length?”, you should definitely visit us at BASS Ventures. I would really like to meet you :-)

Additional Note - BASS Ventures Recruiting Investment Review Team Intern for the Second Half of 2025

Early-Stage VC BASS Ventures that helps startups grow to great heights
We are looking for talented individuals to join our Investment Review Team as interns in the second half of 2025!

•

Number of recruits: 1 person

•

Document deadline: ~2025.06.30 (Mon) 23:59

•

Application Submission: https://slashpage.com/bass-fall-recruit

If you join, you will experience the entire VC investment process, from investment review company meetings and research to full IR and investment screening, and you will also work with the Growth team to help early-stage startups and build and manage a university student entrepreneurship network.

As this is a role that involves having various authorities and working closely with the entire investment team including the CEO, if you are someone who takes the initiative in defining and executing tasks, you will be able to gain a lot of interesting experience. Please check the recruitment website for more details.

Subscribe to 'BASS Ventures'

Welcome to BASS Ventures, the mecca for entrepreneurs with crazy dreams!
By subscribing to the site, you will be the first to receive the latest updates, including new posts, via notifications and email.
Join SlashPage and subscribe to 'BASS Ventures'!