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Where Do Returns Come From?
Investing directly on your own is the single best way to learn this business. Fenny would try to type back to your angel group a lot of the issues they face, or systemicho that depend on their own members for deal flow. A lot of these angel groups are like wear a closed network. We let our members refer deals lets. That doesn't work. Again, we're talking about finding alpha here. Alpha is not found through consensus. By the time it's obvious to everybody, there is probably no alpha left. It's one of the reasons why, especially in the early days of 500, we didn't take rrefurls from other investors. Even now, i