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Angel Economics: The Math to a $100k Angel Portfolio [Jason Calacanis, Zach Coelius]

The Swyx Mixtape

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Is There a Secret to Follow On?

The secret in the early stage is to search for winners. And that's a dis very process. The secret to follow on is to pile in the winners. That's where you can lose real money, but you can make real money too. I kind of like when people do public math, even though there's a chance tat they may be very embarrassingly wrong. Some of these numbers are kind of suspects. Nobody's investing two thousand dollar checks in angel rounds unless they're an angel syndicate,. In that case, they're kind of giving away 20 % of upside, which is kind of weird.

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