People who run one track at a time look decisive. They’re not. They’ve decided to ignore uncertainty.
Running parallel tracks is not indecision. It is the correct response when you cannot know which path will pay off. Closing one early to look decisive costs more than carrying it.
An open path has value, even if it never activates. You close it when the cost of carrying it exceeds what it might produce. Not before.
I have run parallel tracks for most of my career. Corporate finance and Bitcoin entrepreneurship simultaneously. A senior risk role while building a publishing platform. Anyone who asked “but which one is the real thing?” had already accepted the wrong premise.
The parallel track is not a hedge. It is a position.