David Rosenthal: belief

Transcript context

…Correct. I think there's one more layer though that I think we didn't touch on yet (that I've heard you speak about before) which is shaping your bets into this. As you're making these angel investors, keeping them very small and thinking of them as experiments. To me, that seems a really good mental trick. It's not a loss, it's a failed experiment. Correct. This is why I started the LAUNCH Accelerator three years ago, we have a hundred companies that have gone through. I basically was like what was Paul Graham's original idea? Six or seven companies? Great. I'll just copy that, seven companies. Paul was the draw, right? Now, the legacy is the draw and Paul Graham's not the draw, it's the legacy. I said okay. If Paul was the draw, I know I'm a draw, let's see if it works. I just said 6% I prefer for a 100K which is a $1.7 million applied evaluation. We'll go with that. We'll just start accepting 7 people at a time and deploying 700K at a time. Imagine if YC and Angel got married or merged, what'll that look like? That's what I had. I had left AngelList and I had started thesyndicate.com and it took me a while to get that domain name but I got it, coveted that one, I have a domain name coveter.…

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