angel investing

“So I think it's a good use if you have the money, but I wouldn't advise people to think of it as a money-making technique unless they are passionate enough about it to be quite good at it.”

“You have to be prepared to zero out that investment. In fact, you know, my default position when I invest in a startup is that that investment is not worth zero. It's not like if I put, pick a number, 25,000 dollars in a company, And then I track that. Its val…”

“Because when you're angel investing, if you're going for a 7.6% return to try to beat the stock market, you're in the wrong game. Right? It's a game of big wins.”

“But it is true in the very beginning, before you've made your first angel investment, calibrate. So do spend, I don't know if it's a hundred or 10 or 15, you should.”

“It sort of tends to be a minimum in the tens of thousands of dollars, up to a maximum of, you know, hundreds of thousands of dollars, usually.”

“The very best investments I've made have either been a ridiculous deal because no one else wanted to invest, or a deal that felt incredibly expensive. The more I was willing to sort of overpay in my mind to invest in a company, often the better it did.”

“The power law means that your single best investment will be worth more to you in return than all of the rest of your investments put together. Your second best will be better than three through infinity put together.”

“I'll tell you straight away that I'm not doing it to make money. In effect, I feel like where I came from on the East Coast, when people want to give back, they give money to charity and they go to Gallus which I never understood. And strangely, here in the Va…”

“I do also think there's something to an investment having a little bite. Like, it, like, just a little bite. Just a little, like, mmm to make you think a little bit more sharp, sharply about whether this is a good thing you should be doing.”

“And I think that's how you build confidence in yourself as an investor, is you get enough times to iterate and you actually, you know, have to lose money. You actually have to have some winners or losers to feel the pain.”

“Any time I've been, like, excited about something, but then it's like, ah, the price is so high, eh, you know, I'll invest in something else. I've always regretted it. Like, so now, actually, in my head, I kind of turn around the rule. I'm like, if I'm dissuad…”

“The things that I think have taught me a lot about, like, Business are poker and angel investing. So I recommend both of those.”