How to Invest in a Startup

I've gotten my ass kicked in direct to consumer and hardware. Sometimes that works out all right. I had this happen was a great podcasting app called Swell. And then Apple's like, you know what podcasting is important? We'll buy that company. The very best companies, almost to a T have all almost gone out of business several times. Hundreds of their paths. 100%. It's crazy. You invest in something two years later, you just get this five, 10, 20 X. Crazy.

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