When I read Jasaon Calacanis had a new book called Angel: How to Invest in Technology Startups, I knew I had to read it. Now, Jason’s style is very different from mine, but his wit and insight are excellent. Overall, I’d describe the book as a strong introduction to angel investing combined with a heavy dose of in-your-face attitude.
A few notes:
- He invested $25,000 into Uber at a $5 million pre-money valuation (Uber is now valued at $70 billion)
- Was one of the first Sequoia scouts where Sequoia supplied the capital and he received 45% of the profits
- Prefers founders who are willing to pursue their visions long before an investor comes along
- Recommends selling half the angel equity in future rounds, if possible (called “idiot insurance”)
- Believes only way to be successful as angel investor requires being based in Silicon Valley (I believe angel investing should be viewed as charity work)
- Offers starting with advising and/or AngelList as a no/low cost way to start investing
If you’re curious about angel investing in tech startups and want a heavily opinionated view point, Angel: How to Invest in Technology Startups is a great place to start.
What else? What are some more thoughts on the book?