Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000
Jason Calacanisamazon.com
Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000
Pro rata rights are a must and you should never do a deal without them.
Third, I set the tone that monthly updates are something I like to see before I give the founder my money. Life is one giant test, and interacting with investors is one of those tests. Seeing a person execute on their plan over time is the best way to decide if you should invest.
When someone tells me they have a founder they want to introduce me to but they’re worried because the person is a wild card, I set that meeting up for the next day. Angel investors are looking for wild cards, because the best founders are typically inflexible and unmanageable, pursuing their visions at the expense of other people’s feelings.
Rule number one if you do a big hit is to keep your head down and not do any conspicuous consumption.
“I don’t need to know if your idea is going to succeed, I need to know if you are,” is a line from my blog that has been repeated over and over again.
Forecasting is about learning from your past decisions, and you can’t forecast well if you don’t write down your thoughts and check back on them.
The American Dream still exists, it’s just not as widely distributed.
See every graph ever of the 1%.http://static4.businessinsider.com/image/553671bfecad040175514efa-1200-900/one-percent-vs-90-percent.png
Adults take notes on paper and review them later. If you take notes in a book, you are signaling this person that their product and their vision are worthy of being commemorated in your journal for all time.
You want the people who are doing it, not the people talking about maybe doing it after you fund them.