Tremendous

An angel investor's take on life and business

  • Which Accelerators I’m Investing in and Why

    Everyone has an opinion on accelerators. But where am I actually investing? This morning, I dug into my portfolio to find out…

    To be clear, I think these are all fantastic programs. A founder will do great in any of them.

    A Peek Inside My Portfolio

    Now, let’s do the numbers…

    LAUNCH Accelerator: 12

    YC: 4

    Techstars: 4

    Entrepreneur’s Roundtable Accelerator (ERA): 1

    None: 13

    Folks in startupland view an accelerator as a rite of passage. So I found it interesting that the most common program attended by companies in my portfolio was no program at all.

    Which Accelerator Is Best?

    If you look at my 4 most successful startups so far, no one program dominates. One came from ERA, one from LAUNCH, one from Techstars, and one didn’t go to an accelerator.

    LAUNCH does stand out in terms of sending me the most investments. I find that the companies coming out of LAUNCH have stronger traction and better valuations than other accelerators.

    No wonder I never miss their demo day!

    YC stands out in backing highly technical teams going after huge ideas. That’s a combination I love. The name comes at a premium price, but sometimes you get what you pay for.

    Should Founders Even Go to an Accelerator?

    If you’re under $1 million ARR and having any trouble whatsoever raising money, definitely apply to accelerators.

    Stick to these 4, plus Sequoia Arc. Anything else isn’t likely to be worth your time.

    And for heaven’s sake, don’t pay to go to an accelerator!

    If they’re not giving you money, they’re not real investors. They’re scam artists.

    Accelerators connect you with a ton of investors. They also give you a stamp of approval.

    Raising a round coming out of a top accelerator will be 5x easier, minimum. If you went to YC, make that 10x.

    They also provide a ton of wonderful advice. They’ve seen entrepreneurs go from nothing to billion dollar businesses before, and they can help you do the same.

    Wrap-Up

    You don’t have to go to an accelerator. But for most founders, attending a top accelerator is a good move.

    As for me, I’m targeting LAUNCH and YC as two of the most important sources of dealflow for me in the future. I’m also keeping an eye on Techstars and ERA.

    But I’m also excited about meeting founders who didn’t attend any of these programs. Some of my best investments have come this way!

    Have you gone to an accelerator? Do you plan to?

    Have a great weekend, everybody!

    More on tech:

    My Biggest Lesson from Four Years Angel Investing

    My Favorite Startups in YC X25 (Part 1)

    The Coolest Startups at ERA Demo Day

    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. 

  • Using Grok as My Personal Trainer

    Working with a personal trainer can be expensive and time consuming. But can AI train me? Let’s find out…

    Grok As My Personal Trainer

    This morning, I typed a week’s worth of workouts into Grok 3, my favorite LLM at the moment. I gave Grok my goals: general fitness, longevity, and bigger muscles. Because hey, why not?

    Are my workouts on point? Or am I coasting?

    Let’s see what Grok has to say…

    Coach Grok Tells Me to Step It Up

    Grok likes my program for the most part, but recommends a few changes.

    It wants me to up the volume slightly on zone 2 and HIIT. That’s something I may do.

    It also advises me to reorganize my lifts a little. It recommends some interesting new lifts to try that I haven’t heard of, such as the Romanian Deadlift and Bulgarian Split Squat.

    That’s actually one of the great things human trainers do: introduce you to exercises you’ve never heard of.

    For upper body, it recommends going from my current 12 sets (6 pushing, 6 pulling) to 16 sets. Each exercise will include 2-3 sets, spread across different exercises.

    For lower body, it recommends going from my current 6 to 9 sets. That also involves 2-3 sets per exercise.

    So, Am I Gonna Do It?

    I hate being told what to do. I also dislike spending more time in the gym…I find it boring.

    But I’m gonna give it the old college try! After all, it’d be nice to get in better shape.

    I estimate that all told, this will take me an extra 20-30 minutes per week. When you think about it, that’s not that much!

    Wrap-Up

    Human personal trainers run $50-100 per hour. Grok just did a lot of that job for free.

    So, are human trainers doomed?

    Not exactly. I think most people hire a trainer because they’re looking for someone to motivate them and hold them accountable.

    I don’t need that. I hold myself accountable. I just want information.

    But there are enough folks who want that motivation that trainers will be making good money for a very long time.

    Do you use a human trainer? Would you try an AI trainer instead?

    More on tech:

    Using Grok 3 to Manage My Stock Portfolio

    Scouring the Internet with Grok DeeperSearch

    Testing the New Meta AI App

    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 Favorite Startups in YC X25 (Part 1)

    YC’s X25 batch is in full swing. 94 companies have launched so far. Here are my 3 favorites…

    Zeon Systems

    I only see a company this exciting a couple times a year, if that.

    Zeon Systems is automating scientific research. You type in the experiment you want to do in natural language. Robot arms execute the experiment for you.

    This can make every researcher enormously more productive. That means the cost of scientific research falls dramatically.

    What happens when you make something cheaper? You get more of it.

    More scientific research could cure cancer, heart disease and countless other diseases.

    Think about how long it takes to train a scientist. They have to be born, go to kindergarten, elementary, middle and high school. Next comes college, then grad school. Finally, they can make a meaningful contribution to a lab.

    You can stand up a new robot in a few hours, if that.

    The potential for Zeon is incredible. I have a meeting set with these guys for next month.

    Notus Autonomous Systems

    Two years ago on the blog, I wrote about how a drone botnet could win the next war. Welp, these guys actually built it.

    Notus Autonomous Systems is a drone swarm that operates autonomously to accomplish a mission.

    Today, one pilot flies one drone. With Notus, you’ll give the drone swarm a goal and it will act on its own.

    Notus’ drones both fly and move over land. They could be a powerful tool to protect America.

    These founders are so committed they went to Ukraine to learn about modern war. Any founder willing to do that will stop at nothing to make his company a success.

    I just contacted these guys to set up a meeting.

    YouLearn

    I use AI to teach me things all the time. Recently, I’ve learned about CRISPR and missile defense.

    I learn way faster with AI than in most classrooms I’ve been in. So if AI learning works for me, it might work for someone else too, right?

    YouLearn is a personal AI tutor. It digests your class notes, quizzes you, and explains concepts you’re struggling with.

    I’ve looked at several different AI tutoring startups. YouLearn appears to be catching on faster than anything else I’ve seen.

    I just e-mailed these fellas to learn more!

    Wrap-Up

    Investors love to complain about YC — waah, the valuations!

    If you don’t like the price, don’t pay it.

    Me, I’m grateful for Y Combinator. Nobody else helps early stage startups more than they do.

    I had a great time learning about all these awesome companies. The week of Demo Day, I’ll be back with my top picks from the later YC launches.

    What are your favorite companies in the current batch?

    More on tech:

    My Biggest Lesson from Four Years Angel Investing

    The Coolest Startups at ERA Demo Day

    Meet My Latest Investment: Sent.dm

    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. 

  • Scouring the Internet with Grok DeeperSearch

    There’s a new way to dig into the darkest bowels of the internet, if you dare: Grok DeeperSearch. This morning, I set this powerful tool loose on an important question: the threat humanoid robots could pose to human beings.

    Yesterday on the blog, we looked at a disturbing incident in which a robot flailed its arms wildly, endangering several nearby workers. The robot involved appears to come from the Chinese startup Unitree.

    I started to wonder…has this happened before?

    These incidents are scattered all over the world. The reporting tends to be spotty at best.

    This was a perfect job for DeeperSearch.

    DeeperSearch scours tons of sources all over the web. Then, it uses chain-of-thought reasoning to find the best answers. DeeperSearch is based on the Grok DeepSearch tool, but goes further and uses advanced reasoning to provide the best results.

    DeeperSearch ran quickly, taking about 2.5 minutes. Here’s what it came up with:

    DeeperSearch found two incidents, both involving Unitree robots. Both occurred this year.

    In the first case, a robot at a public New Year’s exhibition lunged at a spectator and started waving its arms wildly. The second incident is the one we covered yesterday, when a robot started flailing its arms dangerously in a factory.

    This points to a recurring problem with Unitree robots. They seem to start flailing unpredictably. With the power in their metal limbs, this could put humans in serious danger.

    Grok did a wonderful job of finding this info and putting it into the bulleted list I asked for. I’m excited to use this to research startups!

    The citations were also great, although I would’ve loved to see clickable links in line with the response instead of at the end.

    Overall, Grok DeeperSearch is an awesome product. I would’ve had to Google around for 30-60 minutes to find what Grok found in 2 minutes.

    I’m giving DeeperSearch a solid A. Clickable links inside the response would bump it up to an A+.

    I can’t wait to see DeeperSearch paired with Grok 3.5 soon. That could be the most powerful fact finding tool of all time.

    More on tech:

    Did a Robot Try to Attack Humans?

    Using Grok 3 to Manage My Stock Portfolio

    Testing the New Meta AI App

    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. 

  • Did a Robot Try to Attack Humans?

    The robot flails wildly as human workers run away in fear. This isn’t a new sci-fi movie: it’s a real video from a factory producing robots.

    The video shows a robot suspended from a crane as human workers mill around it. Suddenly, it starts flailing its arms uncontrollably. Any contact with these powerful limbs could severely injure or even kill a human.

    There are conflicting reports on which company made the android. Early reports said the robot was produced by Clone Robotics. But later reports say it’s from Unitree, a Chinese robotics company.

    The robot doesn’t really look like one of the Clone Robotics models, which mimic human muscle and bone. It looks more like plain metal, suggesting a Unitree.

    Fortunately, the workers got away in time. But as androids become more common, we’re going to be dealing with this scenario more and more.

    These robots need highly reliable motion sensors. If a human, or any obstacle, is nearby, they need to stop. What’s more, humans need a way to quickly and easily disable them.

    Some people will jump to the conclusion that the robot is sentient and wants to hurt the workers. I doubt it.

    It’s probably just a mechanical problem that caused the arms to move unexpectedly. But in the end, the result is the same: someone could’ve been hurt or even killed.

    So far, the American robotics companies seem to be far ahead of the Chinese. We haven’t seen any scary incidents like this from the Figure androids, for example.

    Getting humans to accept these bots is going to be really hard. If they go nuts and attack people, it will be impossible.

    That would be a shame, because we have a lot to gain!

    Robots could do our housework and handle dirty and dangerous industrial jobs. But to get those benefits, we have to show the public they’re not a threat.

    Just like with self-driving cars, the key here is safety. People will not accept a new technology if they think it’s unsafe.

    We’re better off moving slowly and nailing the safety. Because if one of these robots kills a human, you won’t see androids for a very long time.

    More on tech:

    Testing Gemini’s New Models

    Three Green Flags I Look For in Founders

    Five Things Founders Should Never Pay For

    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.

  • The Berkshire Annual Meeting (Part 4)

    “It’s a lot tougher to be an operator. I mean it is. It’s easier to sit in a room like I do and play around with money. It’s just an easier life.” – Warren Buffett

    Warren is the greatest investor of all time. But there’s one job that’s too hard, even for him: operating a business.

    Warren explains why and more in the final hour of Berkshire’s recent annual meeting.

    Investors vs. Operators

    Warren has enormous respect for people that operate businesses. After all, he relies on them to run the companies he invests in.

    But talented though he is, Warren isn’t interested in running an operating business.

    “I’ve been able to choose what I do with my day to an extraordinary degree compared to being a business operator,” he explained.

    Just this morning, I was thinking about how much easier my life is than a founder’s.

    I have 34 brilliant, hard working people toiling away on my behalf, day and night. Add in their co-founders, and it may be as many as 100. And that’s not even counting all the wonderful people who work for them!

    With all these folks on my side, how can I lose? All I have to do is sit back and cash the checks.

    I have incredible respect for people who start and run companies. But give me the choice between an easy job and a hard one, and I’ll take the easy job every time.

    How Great Investors Are Made

    Whenever someone asks him what makes a great investor, Warren gives the same response: reading. He’s been a voracious reader since childhood.

    “…I read every book there was on investments, literally, in the Omaha public library.”

    I try to read a lot as well. I also take notes on every book I read.

    I have notes going back 7 years. It’s like a personalized Cliff’s Notes with the key lessons from countless great books, available to me at any time.

    Right now, I’m reading Damn Right!, a book about Charlie Munger.

    The End of an Era

    At the end of the meeting, Warren shocked the 40,000 people in attendance. He announced his retirement as CEO, effective at the end of the year.

    He’ll be succeeded by his hand picked successor, Greg Abel. Greg has been working alongside Warren for years, preparing for this moment.

    The entire crowd gave Warren a standing ovation that lasted for minutes on end. It would’ve gone even longer if Warren hadn’t ask them to stop!

    Warren will stay on as Chairman. He’ll be there to advise Greg on big decisions.

    But the final word will be Greg’s.

    Wrap-Up

    I’m really sorry to see Warren go.

    He’s been my idol since I was a kid. I’ve read countless books about him, and plan to read many more.

    But he’s a smart man. He’s not going to force people to carry him out of Berkshire when he can no longer do the job.

    Since he’ll still be Chairman, I’m hoping he’ll be there to answer some questions at next year’s meeting.

    I hope you enjoyed this four part series on the Berkshire annual meeting. We’ll be back to our regular schedule on Monday.

    Have a great weekend, everyone!

    More on investing:

    The Berkshire Annual Meeting (Part 3)

    The Berkshire Annual Meeting (Part 2)

    The Berkshire Annual Meeting (Part 1)

    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 Berkshire Annual Meeting (Part 3)

    Warren Buffett’s $335 billion cash pile might be the biggest in the world. So why hold all this cash instead of investing it?

    At the latest Berkshire annual meeting, Warren and incoming CEO Greg Abel break it down.

    How Cash Reserves Keep You Independent

    Those massive cash reserves partly reflect a lack of reasonably priced investments today. But there’s another reason: cash keeps Berkshire independent.

    “…we will never be dependent on a bank or some other party for Berkshire to be successful,” Abel said.

    Remember when all those big banks went bust in 2008? Most were dependent on overnight loans.

    Imagine that in your personal life. Each day, you roll over a loan with some bank. If that loan gets pulled, you suddenly can’t pay your mortgage or buy groceries.

    It’s insane! And yet many big banks ran this way for decades.

    For the most part, it was fine. The loans rolled over every day like clockwork.

    But when panic hit in the markets in the fall of ’08, no one wanted to lend to anybody. So institutions that were over a century old disappeared in a flash.

    Big cash reserves ensure this will never happen to Berkshire. On my own lilliputian scale, I also make sure I have plenty of stable, liquid securities. And I never take on so much as a dime of debt.

    The Importance of Reading

    Many shareholders ask Warren for advice on how to become great investors. Time and again, he tells them the same thing: read.

    “Keep a lot of curiosity and read a lot…” Warren advises a young girl who wants to work at Berkshire one day.

    Warren’s not the only great investor giving this advice. When Tim Ferriss asked Bill Gurley how to get better as an investor, Bill just rattled off a long list of books. I’ve read some of them and plan to read more!

    Berkshire itself is a wonderful source of reading material for investors, Warren explains.

    “Berkshire Hathaway has got plenty of material out there for you to read. And when you get through reading it all, you’ll know way more than most of the people that work at Berkshire.”

    This reminds me that I need to pick up that book of Warren’s annual letters. I’d love to get his views on the world and markets over the years, through boom and bust and upheaval.

    Wrap-Up

    Many companies live right on the edge, leveraged to the hilt. A lot of individuals do the same in their personal lives.

    At Berkshire, Warren and Greg do the opposite. They set plenty of cash aside.

    This way, they’ll never depend on someone else to stay in business.

    If you want to get rich, you first have to avoid going broke. Warren said it well years ago:

    “Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.”

    Come back tomorrow for the final hour of the Berkshire annual meeting and more insights from Buffett!

    More on investing:

    The Berkshire Annual Meeting (Part 2)

    The Berkshire Annual Meeting (Part 1)

    Buffett’s Annual Letter

    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 Berkshire Annual Meeting (Part 2)

    “Charlie always pointed out that we made most of our money on about eight or nine ideas over fifty years.”

    Warren Buffett

    Warren is a patient man. Right now, he’s sitting on a giant pile of cash, just waiting for the right opportunity at the right price.

    In a world of short term thinkers, Warren’s in no rush.

    The legendary investor broke down his investment approach in Berkshire’s recent annual meeting. Let’s dig in!

    Building for the Long Term

    The biggest difference I can find between Warren and other CEO’s and investors is his incredibly long term orientation. It comes out when he discusses Berkshire’s investment in Japanese trading companies:

    “…we expect to hold it for 50 or 100 years or more…” he says.

    When have you ever heard a CEO talk about 50 or 100 years from now? Normally, they’re focused on the quarter, the year, and maybe a couple years after.

    Thinking in such a long term fashion is even more incredible when you consider that Warren is 94!

    If we want results like Warren’s, we cannot do what everyone else is doing. His very long term view is a key reason why he’s beating everyone else.

    Acting Fast

    Warren waits patiently for good opportunities, sometimes doing little for years. That’s why he’s sitting on $335 billion in Treasuries right now.

    But when he sees an amazing deal, he strikes.

    “We made a great deal of money because we were willing to act faster than anybody,” Warren explained

    In my own little corner of the world, I try to do the same thing.

    Last fall, a founder told me I had to meet Joseph from LedgerUp. So I cold e-mailed him and we were on Zoom within the hour.

    Less than 24 hours later, I invested. I knew what I was looking for, and LedgerUp was it.

    Great deals are rare. If we sit around hemming and hawing when one comes, we’ll miss it.

    “You don’t want to be patient when the time comes to act. You want to get it done that day,” Warren said.

    The American Advantage

    Warren’s patience and decisiveness are two of the big reasons why he’s such a successful investor. But his biggest advantage is something most of us have too: being born in America.

    “The luckiest day in my life was when I was born in the United States,” Buffett said.

    This is especially true in tech. Nowhere else has the bazillion startups supported by limitless funding. Nowhere else has the can-do attitude we swim in like water.

    When I talk to people in other countries, I can barely believe what I’m hearing. Their reports sound like dispatches from another planet.

    People tear each other down for being successful. Anyone who fails at anything is scorned for life. The government goes after successful entrepreneurs.

    In America, we don’t have to deal with any of that. For that, I am truly grateful.

    “…it’s the greatest country in the world and you’ve got the greatest time in the world.”

    Wrap-Up

    Warren doesn’t operate like most investors.

    He reads, studies, and mostly does nothing. When he makes a move, it is rapid and decisive. And he builds for the next century, not the next quarter.

    No matter what we invest in, we can learn from Buffett. We can read, observe, and act quickly when we see the right opportunity.

    Believe it or not, Warren doesn’t want to be known as the greatest investor ever. He’d rather be famous for something else instead.

    “…the main thing I’d like to be known for is old age.”

    Come back tomorrow for more lessons from the master!

    More on investing:

    The Berkshire Annual Meeting (Part 1)

    Buffett’s Annual Letter

    My Biggest Lesson from Four Years 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 Berkshire Annual Meeting (Part 1)

    “Trade should not be a weapon.”

    Warren Buffett

    Warren Buffett presided over what may be his last annual meeting this Saturday. Seated with his customary Cherry Coke, he dispensed wisdom on everything from tariffs to patience in investing.

    Buffett on Tariffs

    Warren is dead set against tariffs and trade wars. Instead, he’d rather have us specialize and buy the rest from abroad.

    “In the United States, we should be looking to trade with the rest of the world and we should be doing what we do best and they should do what they do best,” he said.

    Warren is my idol, but I have to disagree with him here. Those tariffs give us leverage we wouldn’t otherwise have.

    With that leverage, we can get better terms of trade. This will let us sell more to other countries, making us richer.

    Warren also points out that if other countries feel like they’re being treated unfairly, our relationship with them will go down the drain. Right now, a lot of countries are probably feeling that way.

    “I don’t think it’s good to design a world where a few countries say, ‘ha ha ha ha, we’ve won’ and other countries are envious,” Warren added.

    I’m with Warren on this one. Any trade deals we make have to be mutually beneficial, or the deal’s not going to happen.

    We should be aiming for zero tariffs on our goods and zero tariffs on foreign ones, even Steven. We may have to make an exception for critical items like medicine, but that’s it.

    Why He’s Sitting on $335 Billion in Cash

    Right now, Warren is sitting on a mountain of cash: $335 billion worth of Treasuries. So why isn’t he investing this money?

    It comes down to a lack of good opportunities. Most stocks aren’t cheap, despite a slight drop off in markets this year.

    “Things get extraordinarily attractive very occasionally,” Warren explained.

    On my own microscopic scale, I can relate to what Warren is dealing with.

    So far, I’ve only made one startup investment this year. This is way below my usual pace. In a typical year, I might already have 3-5.

    But I just haven’t seen a lot of great opportunities this year. Instead, I’ve seen a ton of startups going after smallish markets and raising at huge valuations.

    So I’m content to sit tight. Good opportunities will come along eventually.

    “We’re running a business which is very, very, very opportunistic,” Warren added.

    My corner of the investment world is a lot different from Warren’s, but patience is still critical.

    Wrap-Up

    Since I was a teenager, I looked up to Buffett. He was wise, independent, and of course rich. All the things I wanted to be.

    I’m sad that he’s stepping down as CEO. It’s the end of an era, like when Michael Jordan retired.

    But it also shows Warren’s wisdom. He’s going out on top, not being carried out.

    Warren will remain as chairman, so we may see him at next year’s meeting. Fingers crossed!

    This is part one of a four part series that will run through the end of the week. Pop in tomorrow for more wisdom from Buffett!

    More on investing:

    Buffett’s Annual Letter

    The 2024 Berkshire Annual Meeting in Five Days: Day 1

    My Biggest Lesson from Four Years 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. 

  • My Biggest Lesson from Four Years Angel Investing

    I missed a $40 billion opportunity because I ignored a simple truth: everything comes down to the founder. This is my biggest lesson in 4 years angel investing.

    Missing a $40 Billion Opportunity

    Two years ago, I had the opportunity to invest in the seed round of Figure, the robotics startup.

    I found the company really intriguing. I couldn’t stop thinking about it and telling folks about their cool androids.

    I also knew the founder had started a billion dollar company before (Archer Aviation).

    But Figure’s valuation was high. I was concerned there wouldn’t be enough upside. And it was robotics, something I don’t know much about.

    Full of doubts and second guesses, I passed on the investment.

    Fast forward two years, and Figure is valued at $40 billion. I missed one of the biggest opportunities of my career.

    All that stuff I was worried about? Turned out none of it mattered. All that mattered was that Brett Adcock is exceptional.

    How I Invest Now

    When I looked at decks a few years ago, I’d flip straight to traction. Now, I flip straight to the team slide.

    I scrutinize the founders’ backgrounds. Have they done anything exceptional in the past?

    Startups are a lot like grade school. What’s the best predictor of who will get A’s this year? Who got A’s last year! Successful people keep succeeding.

    I’m not saying that only founders with incredible track records are worth investing in. Nobody knew who Brian Chesky and Joe Gebbia were when they started Airbnb.

    I’m excited about investing in the unknown founders too. But founders with a strong track record go to the top of my list.

    Wrap-Up

    It’s so easy to get lost in metrics and analysis. CAC, ROIC, TAM, you name it.

    Here’s my best advice to new angels: you must know the details, but you don’t want to get lost in them. Focus on the founder above all else.

    In the end, every company boils down to a human being trying to achieve a goal. If that human is exceptional, nothing else matters.

    More on tech:

    Missing Figure

    Seed Valuations Hit All-Time High

    When an Investor Pulls Your Term Sheet

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