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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Uber's Strangeness
- Early Uber seemed strange as VCs avoided offline industries then.
- Understanding technology helps identify breakable rules.
Conviction and Investment Size
- Admit "I don't know" often; only sometimes have conviction.
- Strive for standard investment sizes, even in high-conviction deals.
Avoid Hot Markets
- Avoid chasing hot markets; aim for the beginning, not the end.
- By the time conferences and media hype arrive, it's often too late.