Jason Calacanis: evaluation

Transcript context

…This is what I want to go deeper on because I think there's a really important insight here. How do you square what you said a minute ago, about the early stage consensus kills because you want the crazy stuff you can't predict? What is the signal on the clock? Yeah. We have a course called Angel University, that goes along with Angel, the book. In that course, I explain to people that when you make your first 20 or 30 bets, make a small bet as possible which is using syndicates is a good idea, forget about mine, just sign up for everyone because it's free to read the deal memos, you'll learn. If you do that, you're playing at the lowest stakes poker table while you learn. If you want to learn Black Jack, sit at the $1 Black Jack table instead of the $100 end because you will lose a minimum and it doesn't matter if you lose, it's like paying for an educational course. I tell people only to invest in companies, startups that have gotten their product to market, have some customers. Hopefully, paying customers but if not, customers who were using the free product that you can at least talk to. You've now limited. As you guys know, 90% of the failure rate, 90% of attrition in startups— They just don't ship the product.…

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