Tremendous

An angel investor's take on life and business

  • Stopping Mass Shootings with Technology

    Two more kids killed. I’ve had it. Nothing done politically. Can technology stop this?

    We all know about the school shooting yesterday in Minneapolis. As usual, our political system seems unable or unwilling to do anything about it.

    I’m tired of waiting for these idiots. Let’s do something ourselves.

    Cover: The Best Anti-Shooting Tech I’ve Seen Yet

    The most promising technology I’ve seen for stopping mass shootings is a startup called Cover. The founder is Brett Adcock, the genius behind Archer Aviation and the Figure robots.

    Cover is a device that scans crowds for weapons.

    The device looks like a chest-high barrel. It emits terahertz waves that should be no more dangerous to a human than WiFi signals.

    Different materials interact with terahertz waves differently. The waves pass through clothing but are absorbed by metal.

    This means that the image of a gun will stand out clearly when you scan a crowd.

    Why Cover Beats Other Scanners

    We’ve seen scanners before in airports. But Cover’s technology appears to be far more advanced.

    Cover claims to see 10-15 feet from the unit, as opposed to just 1-2 feet for the airport scanners. What’s more, there’s no need for conveyor belts or human operators.

    You just set up the Cover units anywhere and they scan the space continuously for weapons.

    Is that a miracle, or what?

    It may be a violation of civil liberties to put these on every street corner. But on private property like a school, office or sports stadium, there’s nothing wrong with it.

    I’d feel a darn sight better about being in a crowd if there were a few Covers nearby.

    Now, Can I Get a Check In?

    Like most startups, Cover will probably need to raise money to make its vision a reality. I’d love to help them there, even in a very small way.

    Today, I contacted several top angel syndicates to see if we can scare up some shares.

    Cover doesn’t appear to have raised any money thus far. Brett may have funded it himself up until now, like he did with Figure.

    Getting my hands on some shares won’t be easy. But it’s worth a try.

    Other Ways to Stop Mass Shootings, From Software to Pepper Gel

    Cover isn’t the only startup trying to stop mass shootings.

    A couple of months ago, I met with a promising software company that scans the internet to find people who may be about to commit an act of violence.

    I’ve also seen devices that can shoot pepper gel at attackers. Next week, I’m meeting with a startup working on that.

    Wrap-Up

    Business is how we solve problems in this country. In fact, it seems to be the only way we know how.

    Some really brave founders are attacking the problem of mass shootings with everything they’ve got. I want to support them.

    I think there’s money to be made in solving this problem. But frankly, I’d be fine if I didn’t make a cent, so long as the shootings stopped.

    If you’re building tech to stop mass shootings, leave a comment below.

    We WILL solve this problem. Whatever it takes.

    More on tech:

    My New Investment Strategy

    How to Get Started Angel Investing

    Did China Just Drop The World’s Best AI Model?

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • 3 Ridiculously Easy Things Every Investor Should Be Doing

    The level of accepted laziness in this business is just pathetic. I’m no Harry Stebbings. I don’t do 996. But day after day, I find myself shocked at the total lack of standards investors have for themselves.

    This laziness hurts startups. It also hurts investors, whose net worth (and reputation) is tied to those startups.

    Let’s go through what I consider to be the absolute bare minimum for an investor…

    1) Answer Your Messages. Respond to founder and investor messages within a reasonable period of time, preferably 24 hours or less.

    Founders are out there busting their butts. They can’t wait a week for you to get back from Italy and maybe, possibly respond to their e-mail.

    Can I say I’ve never missed a message? Of course not.

    But I try my best to get back with everyone, especially if we know each other. I can usually manage that in 12 hours or less.

    If I get a cold message that doesn’t give me any useful detail or seem compelling in any way, sometimes I don’t respond. And even then, I probably should be, even if just to decline.

    That’s something for me to work on.

    2) Reply to Investor Updates. Can you believe that many investors don’t do this?

    An incredibly busy founder took the time to write you an update. You backed him, and you should be his biggest supporter.

    But you couldn’t see your way clear to write “Great growth, keep it up!”?

    Come on, people.

    You don’t need to write them a novel. One friendly, positive line is enough.

    But say something, just so they know they’re not screaming into the abyss.

    Many founders report never getting a single reply to their updates! No wonder they stop sending them.

    3) Boost Them on Socials. Yesterday, I screamed at my computer “WHAT THE @#%$!”

    The reason: yet again, I’m the one and only person commenting on one of my startup’s LinkedIn posts.

    Folks, we all know how these algos work. Like, comment, follow, and their posts reach more people.

    LinkedIn is a critical sales channel for many startups. We should all be boosting our companies every chance we get.

    The same goes for X and other social platforms as well. Pick a platform or two and boost your companies regularly.

    It’s easy, anyone can do it, and it really does help!

    It also lets founders know you notice them and you give a crap. Sometimes, that alone is enough.

    Wrap-Up

    Think of everything founders do for us.

    Sleepless nights. Low pay. Lost relationships. Crippling stress.

    And we can’t reply to an e-mail? Give me a break.

    I’ve kept quiet about this for a long time. But I’m finally fed up.

    For those of you out there doing the right thing, I see you and I appreciate you. And founders do too.

    For those of you slacking, this is your wake up call. Step it up.

    More on tech:

    My New Investment Strategy

    Meet My Latest Investment: Mozi

    How to Tell If Investors Are Really Interested

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • My New Investment Strategy

    Adapt or die. That’s why I’m changing my investment strategy. Check size doubling to $10k, no reserves. I’ve written 2 of them this week and hope to write many more.

    Here’s why I’m making this change…

    A Wake-Up Call

    Up until now, I’ve written $5,000 first checks and reserved $25,000 more to go into the most successful companies. I’ve been writing those $25,000 checks to roughly the top 15% of my portfolio.

    In total, my portfolio was allocated 50% to primary bets and 50% for follow-on.

    But recently, something happened that made me question everything.

    One of my startups rapidly jumped out to tens of millions in revenue. We should have a chance to re-invest, but the price will be 5-10 times higher than I expected.

    That price will be 100% worth it, justified by a mountain of revenue. It just all happened much faster than I expected.

    Growth So Fast Your Head Spins

    I am seeing this over and over, in my companies and across the market.

    Another startup of mine, a 2022 investment, also grew way faster than I ever could’ve predicted. On top of that, its capital needs were so minimal I haven’t been able to re-invest yet, and may never get the opportunity.

    That’s $25,000 I can’t put to work in a really awesome company.

    Or take Lovable. They grew from 0 to $100 million ARR in just 8 months.

    That is the fastest in history. Getting to $100 million might have taken 10 years before generative AI, best case scenario.

    How Reserves Used to Work

    In a slower growth world before generative AI, reserves made tons of sense.

    We watched companies develop slowly. We gathered information as we worked with the founder, much of it proprietary.

    If revenue did the classic triple-triple-triple-double-double-double, that was a big winner!

    Then a year or two after the Seed, you got a chance to re-invest in the Series A.

    The price was around 3x higher, generally. Getting in a second, larger bet in the winners was a chance to dramatically increase your returns.

    Why Reserves Are Outmoded

    It doesn’t happen like that today.

    The next chance to invest comes at 30, 40, or 50x the last price, not 3x. That 2nd bet won’t do nearly as much for you. The entry price is too high to give you much upside.

    Today, you generally have one chance to invest early, in the pre-seed or seed.

    Once the company hits product-market fit, it jumps out to tens or hundreds of millions in revenue in a matter of months. The next chance to invest will be at a price that looks more like a Series C or D, not the Series A of yore.

    How I’m Investing Today: All or Nothing

    Today, we get one chance to buy in before the train leaves the station. So I’m buying all my ownership upfront.

    No more “$5k now and $25k maybe”. Instead, it’s “$10k now and that’s probably it.”

    Occasionally, I may still put a follow-on check into an exceptional company. If I do, that check likely won’t exceed $35,000, based on the amount of money I’m comfortable allocating to any single startup.

    So, my check sizes are now $10k to $35k. Expect the $10k.

    Wrap-Up

    Founding and investing in tech startups is the fastest changing business there is. If I don’t adapt, I will be a dinosaur. 🦖

    So I’ve retooled my strategy for a world of much faster growth. And I gotta tell ya, not worrying about whether I’ll get space in the A is a load off my mind anyhow. 😂

    If you’re building something special, tell me about it in the comments below. Perhaps I’ll have $10,000 for you!

    More on tech:

    Meet My Latest Investment: Mozi

    Meet My Latest Investment: Zeon Systems

    How to Get Started Angel Investing

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Meet My Latest Investment: Mozi

    The thesis for my latest investment is simple: Ev Williams is one of the founders. End of thesis.

    Ev co-founded Twitter with Jack Dorsey back in 2006. Now, he’s working on a new startup called Mozi.

    Mozi helps you connect with your actual friends in the real world. It makes social media actually social again, as opposed to a mad dash for followers.

    When I go on X, I don’t see any of my close friends. None of them use it!

    Increasingly, I don’t even see people I follow. X, like all social apps, is going the way of TikTok – showing you the most engaging content, regardless of where it came from.

    Mozi is different. You only see your actual friends.

    Let’s say my old friend Tim is up from Virginia for the day. He could easily forget to tell me. Mozi could alert us right away so we don’t miss that special moment to be together.

    This is exactly the kind of social app I’ve been looking for. In fact, right before I got the deal memo for Mozi in my inbox, I was thinking to myself, “No one is authentic on social media anymore. It’s all about clout and followers.”

    It’s funny isn’t it, life’s coincidences?

    Mozi is the direction I want to see technology go in: real life connection, not clout chasing or AI girlfriends. We should be bringing people together, not further isolating them.

    Together with his co-founder Molly, Ev is going to change the way we relate to technology. We’ll be happier for it.

    Check out Mozi and reconnect with the folks who matter most!

    Sorry for the lack of posts last week, guys! I got sick, but I’m 100% now and delighted to be back!

    More on tech:

    Meet My Latest Investment: Zeon Systems

    Never Invest What You Can’t Afford to Lose

    How to Get Started Angel Investing

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 


  • Never Invest What You Can’t Afford to Lose

    Everyone tells angels not to invest more than they can afford to lose. I obey. Here’s why…

    “You no need-uh money? You no like-uh eat?” – Junior Soprano.

    What a Startup Is Worth

    Most startups aren’t worth a nickel.

    Sound harsh? Sure.

    But it’s true.

    The terminal value for most of these companies is 0. They will not make it. They will be failed experiments.

    And that’s okay! That’s what we do.

    But that’s why you can’t invest money you can’t afford to lose. Because no matter how good you are, lose you will.

    So why do it? Well, financially speaking, it’s because you might hit an Uber.

    One of those makes up for an awful lot of mistakes.

    In fact, it should make up for all of them. And a whole lot more besides.

    “Who’s Roelof?”

    “But I won’t lose money, I’m really smart!” you might say.

    I’m sure you are. But what about Roelof Botha?

    Don’t know who he is? He works at Sequoia, the best venture capital firm in the history of the friggin’ planet.

    And not only does he work there. He runs the whole darn place!

    You think you’re better than him?

    I certainly don’t. And if you do, then I don’t think you’re as smart as you think you are.

    Roelof has lost money. In fact, he’s lost the whole investment, every cent.

    15 times.

    What Happens If You Invest Money You Can’t Afford to Lose

    If you can invest in startups, you’re rich.

    I know, you’re not Bill Gates. Neither am I.

    But you’re well ahead of most humans. You’re not scratching to survive.

    Do you like this comfortable life?

    Do you like not having to work for anyone else? Or at least being able to withstand some time unemployed?

    Do you like not having to worry about money, or whether you’ll eat?

    I’d wager you do. So do I.

    So don’t risk it. Not for anything.

    Warren Buffett said it better than I can:

    “It’s insane to risk what you have and need for what you don’t have and don’t need.”

    Wrap-Up

    Why do people invest in startups?

    I’ll tell you why I do it.

    It’s interesting. Simple as that.

    And no, I’m not insensitive to money. If I make a bunch, I might buy something. Why not?

    But I didn’t need money when I started this. If I did, how could I even do this full time?

    So I have my fun. But I’m not going to imperil this free and secure existence.

    That would be silly.

    And I suggest you don’t either.

    Note: I am not an investment advisor and this is not investment advice. It is merely my opinion derived from research and experience. Take it with a grain of salt.

    More on tech:

    Big Opportunities

    Are Hackers After Your Brain? — The Rise of CogSec

    How to Get Started Angel Investing

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • The Tech Podcasts That Taught Me the Most

    “All the greats in business studied the greats in business.” Podcasts are a wonderful way to do it. Here are my favorites…

    This Week in Startups — My #1 most listened to podcast for several years running. If you’re a founder or investor, TWIST will tell you everything you need to know.

    You can stop reading the tech news. TWIST is the place.

    I’ve learned so much from this show. Half my investment strategy comes from it!

    A great episode to start with is their recent VC Roundtable, which prompted many hours of thinking, writing and strategy changes on my part.

    All In — Any part of my investment strategy that didn’t come from TWIST or Jason’s book Angel probably came from All In.

    It’s a rollicking tour through tech, politics and more. I look forward to it every week!

    My favorite episode of the year was their show with the Collisons. If you’re new to All In, it’s a wonderful place to start!

    Founders — This is the most underrated tech and business podcast in the world. The host, David Senra, is the source for the quote above.

    This guy is a maniac.

    He finds books on European founders that are only in Italian or French and has them translated just for him! Then he tells you about it.

    This is unique content you can’t get anywhere else. I only wish I’d found out about it sooner!

    20VC — Harry Stebbings might be the hardest working man in venture capital. I’m just glad he’s over there in Europe so I at least have a chance. 🙂

    Harry has these awesome, unique interviews you won’t hear anywhere else. One I loved recently was with Edwin Chen, founder of Surge.

    Edwin had never been on a podcast, as far as I know. I’d never even heard of the company.

    And yeah, it’s at $1 billion a year in revenue with no funding. Wow.

    If you don’t listen to 20VC, you’re missing out.

    Wrap-Up

    Podcasts are such a wonderful way to learn. You can listen while you do housework, get your steps in, you name it!

    With shows as good as these, I find myself stopping frequently to rewind and take notes. That’s how you know you’re really getting something out of it.

    I’m so grateful that all these folks produce free, insanely high quality content that I can learn from and enjoy.

    Check them out!

    What are you favorite tech podcasts? Leave a comment and maybe I’ll try them!

    More on tech:

    Top Investor Cyan Banister’s Surprising Way to Find Big Opportunities

    Are Hackers After Your Brain? — The Rise of CogSec

    How to Get Started Angel Investing

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Why the EU Breaking Encryption Is a Threat to the World

    The EU is about to backdoor encryption. Here’s how this could affect you, even if you’re American…

    What Is Chat Control?

    The EU is proposing to break encryption with a policy called Chat Control. Chat Control scans all the info on your devices before it’s encrypted, providing a backdoor to encrypted protocols.

    Chat Control would break encryption within the EU for iMessage, Signal, VPN’s, everything.

    The EU claims it will only be used to detect child pornography.

    But a backdoor is a backdoor, and the government can use it for anything they want. So could hackers.

    If you’re reading this, chances are you’re in the United States, as I am. So, why does this matter for us, and for the world?

    Why This Matters, Even for Americans

    “Why do you even care about this, Francis?” I asked myself. “You don’t live in the EU, you never will live in the EU, and you rarely even visit.”

    True. But I do enjoy my trips there. And I don’t feel good about visiting a place that is unfree.

    I also fear that the next stop for Chat Control is right here in the US of A.

    I highly doubt the Trump Administration would allow this. But you can bet that a subset of politicians and citizens, potentially on both the left and right, would.

    If they take away people’s rights in the EU, the government will try to do the same here. It’s not a matter of “if”.

    It’s a matter of “when”.

    Defeating Chat Control Technically: Good Luck

    It may not be possible for Europeans to stop the EU from implementing Chat Control. But can we defeat Chat Control in a technical manner?

    I asked Gemini 2.5 Pro, prompting it by saying that it’s a world renowned expert on cybersecurity with a strong moral commitment to privacy.

    Here’s a portion of its response:

    “From a purely technical standpoint, there will always be ways for a determined and knowledgeable individual to circumvent ‘Chat Control.’ However, these methods will likely be complex and out of reach for the average user.”

    So basically, you can’t defeat Chat Control in a technical sense. Or perhaps it could be done, but it’s not exactly feasible.

    Will the EU Backdoor Americans’ Phones?

    Let’s say I, as an American, visit the EU.

    It seems extremely unlikely that the “Chat Control” backdoor to my encrypted apps would still be operational after my return to the United States. But it’s hard to say that to an absolute certainty.

    Meanwhile, while you’re in the EU, the government would likely have access to all your information. That’s a huge breach of our privacy, even if it’s only for a little while.

    Perhaps we might just start leaving our phones at home. If we visit the EU at all…

    Wrap-Up

    Stopping child abuse is a very worthy goal. But we can’t be willing to sacrifice all our freedoms in the process.

    Reading about Chat Control, I got to thinking…what’s the future for Europe?

    Take a look at the present.

    Moribund economies. Rock bottom fertility. Minimal innovation. And ever more repressive governments.

    It’s not looking good, folks. I don’t know how they pull out of this.

    I hope Europeans get involved and put a stop to Chat Control. If they succeed, maybe there’s hope for the Old World yet.

    More on tech:

    The EU Wants to Break Encryption — Here’s Why That’s a Terrible Idea

    Are Hackers After Your Brain? — The Rise of CogSec

    How to Get Started Angel Investing

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • The EU Wants to Break Encryption — Here’s Why That’s a Terrible Idea

    I read a headline this morning that really pissed me off. The EU is planning to break encryption and scan everyone’s phone. Here’s why that’s a horrible idea…

    What the Heck Is the EU Up To?

    First, I’ll break down what Chat Control is, then why the EU’s excuse doesn’t hold water, and finally, what we can do about it.

    So, here’s what the EU is doing, from Euronews:

    “In Brussels, the European Commission, Danish presidency, and member states will be trying, once again, to revive the CSAM/chat control that would effectively break encryption online in the name of combating child sexual abuse material, a process more colloquially known as ‘chat control’.”

    This would require breaking encryption within the EU for everyone. iMessage, Signal, VPN’s, everything.

    This leaves a backdoor in every encrypted service which governments can exploit. Hackers can exploit it too.

    Now that you know what Chat Control is, let’s talk about the flimsy excuse the EU is using to justify it.

    Why “The Children” Is Just an Excuse

    Whenever the government wants to take away your freedom, they use one of two excuses: terrorism or “the children.”

    Lately, “the children” is more popular. Maybe that’s because it’s been a while since we’ve seen a major terrorist attack in the West. And as a guy who lives right next to New York City, I pray we don’t.

    Hey, I’m all for protecting children. Put the child abusers under the jail.

    But there’s always some limit to the amount of freedom we’re willing to give up to accomplish any goal, no matter how worthy.

    Balancing Security and Freedom

    Here’s a great way to stop child abuse…

    What if we required cameras in everyone’s house? We use AI to scan the video feed for signs of child abuse.

    This would massively reduce child abuse. But are we willing to pay that price?

    Yeah, didn’t think so!

    And of course, the government would tell us that the cameras are only going to be used to stop child abuse.

    Nothing else. Pinky swear.

    This is what the EU is saying about Chat Control. Do you believe them?

    I sure as heck don’t. They’ll use it against whomever they please, including anyone who says something the government doesn’t like.

    The UK is already arresting people for tweets. Chat Control will allow even tighter repression of speech, this time across the entire EU. And I imagine the UK will adopt something like Chat Control in about a nanosecond.

    What’s to stop the EU from using Chat Control to flag and punish political dissent in general?

    Wrap-Up

    Hey, I get it. Chat Control isn’t a camera in your bedroom.

    But slopes get slippery…

    I don’t know about you, but I’m not ready to hand over my phone to the EU’s cops and bureaucrats. It all comes down to what Martin Luther King said:

    “Injustice anywhere is a threat to justice everywhere.”

    Tomorrow, we’ll talk about why Chat Control isn’t just a threat to EU citizens, but a threat to Americans and the world at large.

    More on tech:

    Three Priorities for the Trump Administration

    How DOGE Can Destroy All Opposition

    The Coming Robot War with China

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Top Investor Cyan Banister’s Surprising Way to Find Big Opportunities

    Cyan Banister is one of the best investors ever, backing SpaceX, Uber, Flexport and more. To find the next great startup, Cyan asks an unusual question…

    The Human Behavior Question

    When she sees a new product, she doesn’t just calculate the Total Addressable Market (TAM). She asks herself “Does it shift human behavior?”

    Cyan’s best investments changed human behavior in big ways.

    Uber has us getting into stranger’s cars every day. We never would’ve done that 20 years ago!

    It also let people turn on income whenever they need it. This wasn’t possible before.

    SpaceX is shifting human behavior in even more profound ways.

    Making high speed internet available worldwide is a massive change in human life. People in an African village can work remote jobs and make 10x what they’d make locally.

    And if Elon gets us to Mars, that would be perhaps the biggest behavior change in the history of our species.

    How Cyan’s Appproach Is Different From Other Investors

    I’ve never heard any other investor ask this question.

    Like most angels and VC’s, I try to calculate a TAM for startups I meet. But many of the companies I meet barely exist yet.

    They’re just beginning to sign up customers. They may pivot to a completely new product and market several times before they hit product-market fit.

    I can still do a TAM calculation. But all too often, it’s numbers in the air.

    The real market size is unknowable. Any attempt to calculate it is an exercise in false precision.

    That’s why Cyan’s method is better. Instead of trying to quantify that which cannot yet be quantified, she asks a qualitative question.

    “Does it shift human behavior?” is an easier question to answer. And if a product gets us stubborn humans to change how we behave, it must have had a big impact.

    I like to calculate the TAM as well, just for reference. But the exact number is less important than how the startup impacts our lives.

    Wrap-Up

    Cyan’s track record as an angel and now a VC is better than just about anyone’s. I can learn a lot from her, and so can every other investor.

    I’m only grateful that people in our industry are so free with their secrets!

    If you’re an investor, ask “Does it shift human behavior?” after every founder meeting. If you’re a founder, ask how your product can shift how we behave.

    We all want to work on the most important problems. To get there, we have to change human life for the better.

    P.S. I found out about Cyan’s method from a wonderful, vintage episode of the Angel podcast by Jason Calacanis. He does an in depth interview with Cyan during her time at Founders Fund. I highly recommend you watch the full hour interview, which you can find here.

    More on tech:

    Talking Follow-On Strategy with JCal

    How to Get Started Angel Investing

    The Startup Conveyor Belt

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

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  • How to Tell If Investors Are Really Interested

    You just finished pitching that big VC. Did you bomb? Did you nail it? Here’s how to tell…

    The Weird Way to Gauge Investor Interest

    There’s a way to tell, but it’s counterintuitive…

    The more questions they ask, the more interested they are. Mr. Moneybags interrogating you like a murder suspect isn’t a sign of skepticism. It’s a sign of being engaged.

    Is Moneybags giving you rapid fire questions, one after another? Is he staring at you as he does it?

    Then you’ve struck a chord. And now, he’s considering an investment, but he needs to check a lot of boxes first.

    No two human beings are exactly alike. But all else being equal, more questions means more interest.

    First, let’s go through what to do if Moneybags gives you tons of questions. Next, we’ll cover what to do if he’s silent…

    How to Handle Investors That Interrogate You

    Use this moment to maximum advantage. Answer each question clearly and concisely.

    Here’s a simple rule: your answer should take the same amount of time as it took him to ask the question. Let’s go through an example…

    Good answer:

    “Moneybags: What was your MRR last month?”

    “You: $12,000.”

    Bad answer:

    “Moneybags: What was your MRR last month?”

    “You: Last month was crazy! We almost got there with Megacorp but our champion got reassigned and the deal got pushed to Q3. We’re almost at the line. And we have a huge pipeline that we’re working through. I want to hire another couple sales guys that are real killers to…”

    You see what you did? Instead of a number, you gave him “blah blah blah.” Not good.

    Give a clear answer. That takes Moneybags’ interest and keeps it high.

    How to Handle Investors That Are Silent

    Now, what if Moneybags doesn’t ask many questions? What if he doesn’t ask any at all?

    First, you want to prevent this situation.

    Start the meeting with a brief pitch. It should last around 5 minutes in a 30 minute meeting, and no more than 10.

    Some investors, like me, want to skip straight to Q&A. Be prepared for that as well.

    After you’re done pitching, never say “Any questions?” Say “What questions do you have?”

    This assumes Moneybags has questions. Even if he doesn’t, it will push him to come up with some and ask them.

    That gets him more engaged. When he’s asking you questions, he’s not answering emails, playing Candy Crush or staring out the window.

    If he still can’t come up with any questions for you, pose some common questions you’ve gotten during your fundraise. Then answer them.

    This could help overcome objections he has that he may not feel comfortable telling you.

    If you keep getting a question from multiple investors, address it proactively in your pitch. This makes you more persuasive right off the bat.

    Wrap-Up

    Never fear an interrogation. Every question is a gift.

    It means the investor is interested. And it’s an opportunity to persuade.

    For each question you answer clearly and concisely, you’re that much closer to getting a check.

    Now go out and meet some VC’s! 💪

    More on tech:

    How to Run a Pitch Meeting

    The Question No Founder Asks

    Take This Out of Your Pitch Now

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order.