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But this is an uncertain venture.
With no potential tenants, it was an uncertain venture, but he renovated it nonetheless.
"I don't know what's going to happen," he said at the time, fearful that any unfavorable publicity might jinx an already uncertain venture.
A more uncertain venture would be to adapt and apply our method to social media content.
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The new levy, by contrast, discriminates against uncertain ventures that require high rates of return to justify their risks, points out Jonathan Pincus of the University of Adelaide.
In a capitalist society investment depends on the animal spirits of entrepreneurs and the constancy of investors, who must commit their funds to uncertain ventures for extended periods.
Perhaps more reassuringly, Sam Walsh, Rio's new chief, spent 20 years in carmaking before joining the firm in 1991.Some say that accountants such as Mr Davis and Ivan Glasenberg, the boss of Glencore, are more pragmatic about shutting or selling underperforming mines, and more cautious about investing in costly and uncertain new ventures.
Choosing whom to invest alongside is particularly important in the uncertain world of venture capital, where many deals are syndicated, in order to share risk and information.
Even in an uncertain market, top venture firms seem to have no trouble locking down huge capital commitments from their investors.
This is the logic driving businesses that operate in highly uncertain environments, such as venture capital firms (whose success rates range from about 10% to about 20%), pharmaceutical companies (which typically create hundreds of new molecular entities before coming up with one marketable drug), and the movie business (where, according to one study, 1.3% of all films earn 80% of the box office).
Much remains uncertain, although I will venture an opinion in the next section.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com