Gurley observes an angel glut beginning a year ago, with some companies raising $5 million in seed money.
“In fact, starting about a year ago I think there was probably what you might call an angel glut of companies who had maybe raised one, two, we've seen companies with $5,000,000 of convertible seed money.”
Gurley frames luck and optionality as something you can increase by taking seemingly superfluous meetings that lead to outcomes.
“it's a question of can you increase your optionality for fortune or luck or whatever anyone else says by taking meetings that may seem superfluous or uncertain or that then lead to these big outcomes?”
Gurley says Bezos looks for unbounded determinism when making angel investments.
“Bezos likes to talk. I because I asked him once how he had all these amazing angel investments. He he's looking for unbounded determinism.”