Angel: How to Invest in Technology Startups—Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000

by Jason Calacanis

“What problem do you solve?” is a classic venture capitalist question that is sometimes phrased as “Is your startup a vitamin or a painkiller?” or “What pain do you remove?” The bottom line is that many of the great companies in the world were built on the promise of removing pain from people’s lives. Sometimes folks have a huge problem and they are searching for a solution.

some startups are so delightful to use that people can’t live without them and will pay a premium for them. These startups have pricing power, and pricing power is a magical thing in the world of business because it’s rare and because it results in obscene returns.

Life is random, but luck isn’t. Lucky people surround themselves with the most successful people in the world and take chances. It isn’t hard or impossible. It just takes work. Do the work. Trust me, just do the work.