A seasoned angel disclosed that all 15 of his investments have gone to zero, underscoring the brutal failure rate of early‑stage startups. While diversification is a common mantra, statistics show that a sizable share of startups never reach meaningful revenue, making multiple losses plausible. The author proposes three practical pathways: becoming a limited partner in a reputable venture fund, co‑investing alongside experienced lead investors, and focusing on sectors where the angel has genuine expertise. These tactics aim to improve odds and sustain the angel‑entrepreneur ecosystem.
SaaS valuations have slumped from seven‑to‑eight times revenue to roughly three‑to‑four times as AI tools reshape the sector. AI‑driven coding lets companies replace legacy SaaS with custom apps, eroding lock‑in and pressuring per‑seat pricing. Long‑term revenue durability is questioned, entry...