Summary: <a href="http://apple.co/1RlJ4Qz" target="_blank" rel="noopener"></a><a href="http://bit.ly/1SdFrwX" target="_blank" rel="noopener"></a><br> Jason Calacanis is back for part 2 of the interview to discuss his book and secrets to successful angel investing. We address questions including:<br> <br> * <a href="http://fullratchet.net/wp-content/uploads/2017/07/Jason-Calacanis-The-Full-Ratchet.jpg"></a>His thoughts on the original Sequoia scout program and the many similar programs today<br> * How he does such high volume of investments when he insists on spending hours with every startup founder that pitches<br> * If he’s really investing at the angel round when it seems that he’s been targeting post-seed<br> * His response to those who claim that VCs get access to all the best deals<br> * His strategy with his angel list syndicate and the types of deals he’s looking for<br> <br> <br> <br> Guest Links:<br> <br> * <a href="http://calacanis.com/">Calacanis.com</a><br> * <a href="https://twitter.com/Jason">Jason on Twitter</a><br> * <a href="https://www.launchfestival.com/">Launch Festival</a><br> * <a href="https://www.launchticker.com/">Launch Ticker</a><br> * The Podcast: <a href="http://thisweekinstartups.com/">This Week in Startups</a><br> * The Book: <a href="http://amzn.to/2tfkTuv">ANGEL: How to invest in technology startups — Timeless advice from an angel investor who turned 100k into 100M’</a><br> * <a href="http://fullratchet.net/138-how-to-angel-invest-like-the-best-part-1-jason-calacanis/">Part 1 of the interview with Jason</a><br> * David Rabie, founder of Tovala, <a href="http://thisweekinstartups.com/david-rabie-tovala/">appears on This Week in Startups</a><br> <br> <br> <br> <br> Key Takeaways:<br> <br> 1- Wealth creation in the 21st Century<br> Conventional wisdom in the 20th century, for those that grew up in the 70s, 80s, and 90s, was that the best way to create wealth was to get a white collar job. Become an attorney, a doctor, an accountant or an IT specialist and make a salary of $100k+. Then one should buy a house and save their money. Don’t go out to eat, pack your lunch, don’t buy your coffee and retire with a few million dollars. But, in Jason’s estimation, this formula no longer works. He cited the changes in real estate value. In the 20th century, homes were 1-2x your household income. Now, if you live in a nice area, the home prices are often 5-10x of one’s household income. Using one’s personal real estate to create wealth is no longer viable.<br> And Jason mentioned the conventional wisdom from books like rich dad poor dad and secret millionaire on the block, approaches that just don’t apply anymore. According to Jason, the method for creating real wealth in the 21st century will look much different. He believes that wealth creation will come from investing in early-stage tech. And Jason himself came from a lower middle-class upbringing in Brooklyn. He hopes that others can get smart on angel investing, like him, and can move from poor to rich, from middle-class to rich, from rich to ultra-wealthy.<br> <br> 2- No Gamble No Future<br> It’s important to mention that angel investing is not for everyone. Most people’s brains are not wired to take this type of risk. This is not a normal pursuit. The majority of investments often fail. However, if you are wired for this and you want to learn, Jason recommended to make small investments in 10-20 startups. What was not previously possible is now possible via syndicates. Angels can find these syndicates on Angel List, Funders Club or Seed Invest. He suggests that new angels only invest via syndicates. And to start out w/ four-figure investments but act as though they are five-figure. Amass a diversified portfolio in the first couple of years and get involved. The most successful angel investors,
