Are You a Great Investor?

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If you have a four hundred fifty million dollar fund, I think terrific is anything north of six to eight X net. Put you in the top five percent top two percent, which by the way, all of the graphs that every academic throws up there, like if you're not out on that right hand end of the curve, it's pretty uncertain. It's worth the lock up timeframe and the risk. Now, all of that has gotten mushed about by a total overabundance of capital trying to get into the system for the last 10 years. But that's it in the long term.

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Jason sits down with Bryan Roberts of Venrock for another episode of Angel Season 7! They discuss Bryan’s first bets (2:22) and his perception of the dot com bubble. (14:38) The two also dive into topics like creating optionality as a startup (21:24), bad habits in VC (28:49) and Theranos. (36:18) To wrap the show, Bryan and Jason discuss disagreeing with founders (39:07) and the psychology of placing bets! (44:33)

(0:00) Jason kicks off the show
(2:22) Bryan’s first investment: Illumina
(8:52) LinkedIn Jobs - Go to http://linkedin.com/angel and post your first job for free
(10:16) Bryan’s second investment: Athena Health
(14:38) Bryan’s experience during the dot-com bubble
(19:54) Merge - Get started by integrating up to 5 linked accounts for free today at merge.dev/twist
(21:24) Creating optionality in a startup
(25:30) Understanding your leaders
(28:49) Bad habits in venture
(34:55) Velocity Growth - Get $500 off your first growth audit or monthly package now with promo code TWIST at velocitygrowth.com/twist
(36:18) Bryan’s thoughts on Theranos
(39:07) Diligence and disagreements with founders
(44:33) The psychology of placing bets + advice for founders

FOLLOW Bryan: https://twitter.com/brobertsvc
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood