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" When I first started as an angel investor, I was excited to start investing in startups - but I didn't know much. I couldn't tell the good ones from the bad; I didn't understand all these venture capital terms, so I would invest somewhat blindly. "

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" You're under tremendous pressure, and everyone needs you to be perfect all the time, and that often creates a perverse incentive to not tell the truth. Please remember - when you get caught not telling the truth, it's over. "

Gil Penchina

Pressure

Truth

Time

" When I participate in a Series A deal with VCs, entrepreneur-friendly terms go out the window. VCs remain attached to age-old traditional industry terms. 'Ratchet,' 'carry,' 'vetoes' - you name it. "

" When trying to start a company, your enemy isn't criticism, anger or insults. Your enemy is apathy. "

" Crypto today is a libertarian paradise. If you send your money to the wrong place, it's gone. If you send it to a merchant and don't receive the goods, you have no recourse. This is cash. Treat it as such. "

" Along the way, I learned the key to launching a company. It's all about storytelling. "

" Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem. "

" Startups are all about breaking the rules and changing the 'natural order' of things. So let's do that for Series A terms. "

" For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.' "

" In the U.S., Wikia has content sponsorships with top brands, including Blizzard Activision, Sony, Microsoft, Electronic Arts, ABC Television and others. "

" A mistake I've made is investing in my idea rather than the entrepreneur's. Sometimes I'm excited about an idea that is similar to the entrepreneur's idea - but not the same. A smart entrepreneur will convince me it is the same, until I write a check! "

" I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory. "

" I've been lucky enough to be involved in a number of great startups, including eBay and Wikia as an entrepreneur and LinkedIn and Paypal as an investor. "

" Whether someone wants to learn the words to a new Lady Gaga song they heard on the radio or to verify the lyrics to 'Blinded by the Light', the LyricWiki community delivers. "

" Now you can create your own Q&A site and be recognized as an expert on any topic you're passionate about in a way that is fast and easier than starting a new website. "

" Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull - dragging every entrepreneur with a sense for opportunity into its blackhole-level gravity. "

" Momentum begets momentum, and the best way to start is to start. "

" I started angel investing because I like hanging out with entrepreneurs. "

" Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0. "

" All I do is talk to people, email people, take meetings with people, and do interviews. Then I work at maintaining relationships with my investors because the trust people place in me is my business model. "

Gil Penchina

Place

Trust

" Buying a banner, you have no control whether ten different people see your ad once, or one person sees it ten times. "

" Focus. It's powerful to do just one thing and pour all your energy into it. "

" While seed deals have gotten easy, Series A negotiations still often feel like the death of 1,000 cuts. "

Gil Penchina

Deals

Seed

" There are lot of ways people get non-economic payback - learning, networking, and relationships. These drive most angels more than the money. "

" It is obvious that the Internet has become such a video-driven entity. With broadband becoming ubiquitous, viewers and advertisers are looking for professional-quality videos. "