Writing
Essays on building, investing, and the things I've learned along the way.
- October 2026 · 5 min read
The Track Before the Road
The cheques worth writing are written before the road is paved. Three companies in, the pattern repeats: arrive while the surface is still rough, or arrive at the prices the consensus produces. – by Errol Damelin, Dust Road Ventures.
Read essay → - May 2026 · 6 min read
Why I Invest on Dust Roads
There is a moment in every investment decision when you know less than you would like to and more than you can afford to ignore. The pitch is thin, the financials are a sketch, but something about the founder tells you the road has already started. That moment is the dust road. – by Errol Damelin, Dust Road Ventures.
Read essay → - April 2026 · 10 min read
What Wonga Taught Me About Conviction
By every external measure, the business was a triumph. Inside the boardroom, the conviction had fractured. The lesson stayed with me and now sits behind every cheque I write.
Read essay → - March 2026 · 7 min read
The Long Distance Between Insight and Consensus
The best opportunities tend to emerge in sectors where the gap between genuine insight and market consensus is widest. Most of investing, and most of building, lives in that gap. – by Errol Damelin, Dust Road Ventures.
Read essay → - February 2026 · 7 min read
On Building When the World Is Burning
Wonga's beta processed its first loan in 2007. It launched to the market in the summer of 2008, weeks before Lehman fell. By every external measure of macro confidence, this was the moment to retrench. We did the opposite, and the decision shaped the company. – by Errol Damelin, Dust Road Ventures.
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