[PREMONEY 2013] Elad Gil

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[PREMONEY 2013] Elad Gil

  1. @eladgil The Best Way To End Up With $1 Million As An Angel? Start with $2 Million blog.eladgil.com
  2. ABOUT ME Serial entrepreneur (last company acquired by Twitter) Started mobile team @Google Invested in AirBnB, Square, Stripe, Pinterest, Optimizely....
  3. AGENDA 1. How to loose money as an angel 2. Good areas for angels 3. Trends
  4. HOW TO LOSE MONEY AS AN ANGEL
  5. HOW TO LOSE MONEY AS AN ANGEL Be momentum driven
  6. HOW TO LOSE MONEY AS AN ANGEL Be momentum driven “Who is in” is usually not a good indicator
  7. HOW TO LOSE MONEY AS AN ANGEL Be momentum driven “Who is in” is usually not a good indicator Best investments often contrarian at the time
  8. HOW TO LOSE MONEY AS AN ANGEL Be momentum driven “Who is in” is usually not a good indicator Best investments often contrarian at the time Party rounds may actually be a bad indicator
  9. HOW TO LOSE MONEY AS AN ANGEL Be momentum driven "The companies I have traditionally seen do best over the long term had lead investors for their seed rounds" - Keith Rabois
  10. HOW TO LOSE MONEY AS AN ANGEL Be short sighted
  11. HOW TO LOSE MONEY AS AN ANGEL Be short sighted Has social internet suddenly become a bad market?
  12. HOW TO LOSE MONEY AS AN ANGEL Be short sighted 2004 2006 2007 2010 2010 20112009 2009 Has social internet suddenly become a bad market?
  13. HOW TO LOSE MONEY AS AN ANGEL Be short sighted 2004 2006 2007 2010 2010 20112009 2009 “Social is over” Has social internet suddenly become a bad market?
  14. HOW TO LOSE MONEY AS AN ANGEL Be a jerk
  15. HOW TO LOSE MONEY AS AN ANGEL Be a jerk JFK: Don’t ask for updates, ask how you can help
  16. HOW TO LOSE MONEY AS AN ANGEL Be a jerk Be quick on deal docs, don’t get in the way JFK: Don’t ask for updates, ask how you can help
  17. HOW TO LOSE MONEY AS AN ANGEL Be a jerk Be quick on deal docs, don’t get in the way JFK: Don’t ask for updates, ask how you can help Sh*t happens, don’t freak out
  18. HOW TO LOSE MONEY AS AN ANGEL Be a jerk Be quick on deal docs, don’t get in the way JFK: Don’t ask for updates, ask how you can help Sh*t happens, don’t freak out Reputation matters
  19. HOW TO LOSE MONEY AS AN ANGEL Some inevitable behavior
  20. HOW TO LOSE MONEY AS AN ANGEL Some inevitable behavior Poor judgement
  21. HOW TO LOSE MONEY AS AN ANGEL Some inevitable behavior Get squeezed out of rounds by VCs Poor judgement
  22. HOW TO LOSE MONEY AS AN ANGEL Some inevitable behavior Investor unfriendly exits: Corp Dev incentives Get squeezed out of rounds by VCs Poor judgement
  23. HOW TO LOSE MONEY AS AN ANGEL Portfolios Assume you will lose all your money Rule of thumb need min 10-12 companies in portfolio Follow ons?
  24. GOOD AREAS FOR ANGELS
  25. GOOD AREAS FOR ANGELS Seek Gaps
  26. GOOD AREAS FOR ANGELS Seek Gaps Capital gap: $500K to $1M seeds; Series A
  27. GOOD AREAS FOR ANGELS Seek Gaps Help gap: Hands on lead Capital gap: $500K to $1M seeds; Series A
  28. GOOD AREAS FOR ANGELS Seek Gaps Help gap: Hands on lead Industry gap: Bio-informatics, Hardware.... Capital gap: $500K to $1M seeds; Series A
  29. GOOD AREAS FOR ANGELS Seek Gaps Help gap: Hands on lead Industry gap: Bio-informatics, Hardware.... Capital gap: $500K to $1M seeds; Series A Differentiation gap: What you uniquely bring
  30. GOOD AREAS FOR ANGELS Be opportunistic
  31. TRENDS
  32. SUCCESSIVE WAVES OF CAPITAL KEEP VALUATIONS HIGH
  33. SERIES A CRUNCH IS REAL
  34. INFORMATION TRANSPARENCY ACCELERATING
  35. DEAL DOC STANDARDIZATION
  36. RISE OF NYC (AND SF)
  37. ENTREPRENEURSHIP VIEWED AS DE-RISKED
  38. ENTREPRENEURSHIP VIEWED AS DE-RISKED “If I don’t get into YC I won’t leave my job”
  39. ENTREPRENEURSHIP VIEWED AS DE-RISKED People assume they can exit (most can’t) “If I don’t get into YC I won’t leave my job”
  40. ENTREPRENEURSHIP VIEWED AS DE-RISKED “If I don’t get into YC I won’t leave my job” People assume they can exit (most can’t) Whenever good looking people enter an industry....
  41. THANK YOU! @eladgil blog.eladgil.com

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