Using a revelatory case study of the creation of RealNetworks, a leading internet firm specializing in streaming media, we document the existence of three key hypothesized patterns of events based on causation and effectuation in entrepreneurship. Specifically, we demonstrate how RealNetworks used the three principles of effectuation embedded within the logic of non-predictive control – (1) affordable loss, (2) strategic partnerships, and (3) leveraging contingencies – to deal with complex and multiple manifestations of Knightian uncertainties in its micro and macro decision environments.