The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Marini: Angels must make 30 investments before they know what they're doing
“If you're serious about becoming an angel investor, you're going to need to do probably 30 investments before you really know what you're doing.”
Marini: Acqui-hires prioritize employee retention, leaving early investors with pennies
“In an acqui-hire, the acquiring company, they don't care about the investors, right? They only care about retaining the employees. Therefore any kind of cash compensation that's going towards the acquisition is going to be earmarked for the employees, and the …”
Marini: Demonstrating pre-investment value motivates founders to include investors
“So for me, I would rather prove out my expertise to an entrepreneur. I would rather contribute to the ecosystem. And hope that they see that value, and instead of cutting me out of a deal, they're more motivated to bring me in.”
Marini: Angels should review 300 to 600 companies to make 30 investments
“If you're going to do 30 investments, you should probably have a investment rate of, let's say, five to 10%, which means you should see 300 to 600 companies if you're investing at five to five to 10% acceptance rate before you hit 30 companies.”
Marini: Network effect market leaders capture 85% to 90% of sector value
“Often in markets, you'll see the number one company accrue 85 to 90% of the value, and then the next company, especially network effect companies and then the next company might get five or 10%, the number two, and then the long tail shares the last five or 10…”
Founders Only Fight for Angels Who Provide Value Beyond Capital
“But the entrepreneur has to go to bat for you. Which means you have to add value along the way. You can't just write a small check and go away and expect that the entrepreneur is going to go to bat with you with a new investor.”
Marini: Getting Great Investors Outweighs Optimizing Seed Valuations
“It's far more important for an entrepreneur to get great people around the table, people that can help them raise a series A. People have a certain domain experience and expertise that they can bring. To me, it's far more important to bring people around the t…”