Why Angel Investing is Dumb [Shaan Puri, Codie Sanchez]

<p>Codie Sanchez recently appeared on the My First Million podcast and gave a really good answer to her perspective on Angel Investing.</p><p>Audio Source: <a href="https://www.listennotes.com/podcasts/my-first-million/176-with-codie-sanchez-MqNCtEfGm0y/">https://www.listennotes.com/podcasts/my-first-million/176-with-codie-sanchez-MqNCtEfGm0y/</a></p><p><strong>Why Angel Investing is Dumb<br></strong><br></p><p><strong>swyx: </strong>[00:00:00] I started angel investing at the end of 2020, the opportunity just presented itself. And it was such a compelling company that I just did it. and since then I've done about five deals and each of them have been about five to $10,000. So it's starting to become a significant chunk of my net worth. </p><p>And I always knew at the back of my mind that it's not the best use of funds. Like I am a seasoned investor in the stock market. And I know that I shouldn't be speculating so much because I don't have that much of an edge, but I do have smart friends. Anyway, I think that it's worth discussing the problems with angel investing as it's starting to become more popular. And I thought that this discussion between Cody Sanchez and Shaan Puri was very intellectually honest. So here it is.  </p><p><strong>Shaan Puri: </strong>[00:00:39] Angel investing is largely dumb. </p><p><br><strong>Codie Sanchez: </strong>[00:00:41] Is that painful? Because we both are angel investors too. And do you have a rolling fund? </p><p>No, I actually say this often and people are like, you have a rolling fund and I'm like, yeah. Of all my investment types that I do, this is, I would say the worst one, but I think it's still good and fun.</p><p>And I do it anyways, but I have two or three better ones that I do besides this. </p><p>One of my good friend's name is Justin Donald, and we're both pretty obsessed with deal structuring. One of the biggest things I have a problem with angel investing is it's too fun. It's like gambling, right?</p><p>Like you get excited about the founders and guess