Naval How to Angel Invest, Part 2
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Jun 12, 2020 Judgment plays a crucial role in angel investing, shaping both success and reputation. Learn how to balance luck with well-informed decisions while avoiding FOMO in the fast-paced startup world. Discover the significance of pivots in companies and how to develop personal investment judgment. Uncover unconventional opportunities and the importance of evaluating the founders' qualities and motivations. Lastly, grasp the psychological risks involved in over-committing financially and understanding the implications for smarter decision-making.
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Judgment Calibration
- Honestly assess your judgment.
- Calibrate and improve it over time.
Seed Stage Judgment
- Seed stage investing relies on people judgment and market potential.
- Diversification hedges against lack of early data, balancing lower judgment.
Dart-Throwing Monkeys vs. Spreadsheet Jockeys
- Parker Thompson humorously describes seed investors as "dart-throwing monkeys."
- Later-stage investors become "spreadsheet jockeys" with more data.