Angel investors need an explicit thesis defining what deals they will avoid
Dan Scheinman · 20VC: Why The Days of Spray and Pray at Seed Are Over, How To Compete In A World of Sequoia Seed Funds & Why Price Doesn't Matter with Dan Scheinman, Angel Investor @ Zoom & Arista Networks · May 21, 2018 · at 26:41
Angel investor Dan Scheinman offers advice to new angel investors on portfolio construction and avoiding spray-and-pray tactics.
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“To be a successful angel investor, you have to understand that clear thesis, and that clear thesis has to tell me what kind of deals you won't do, As well as what kind of deals you will do. And you have to be prepared to defend that thesis. And I think if you don't have that, then you're really in spray and pray land, and then you're taking a lot of risk, and you basically, you've got to bungle into one that's good. Otherwise, you're going to end up getting burned and losing money.”
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