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

by Jason Calacanis

If you didn’t take your pro rata in this scenario, my guess is your shares would have been diluted by about 50 percent over time. This means you would own 5 BPS, one-twentieth of 1 percent of this amazing startup worth $10 billion—or $2.5 million.