--- title: "Meaning & Key Takeaway of: When I first started as an angel…" description: "\"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 th..." image: "https://sms4smile.com/quotes/i/822/gil-penchina-22864_angel_when-i-first-started-as-an-angel-investo_1429710.jpg" --- # When I first started as an angel investor, I was excited… ![“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.” quote by Gil Penchina](https://sms4smile.com/quotes/i/822/gil-penchina-22864_angel_when-i-first-started-as-an-angel-investo_1429710.jpg) [Download](https://sms4smile.com/quotes/i/822/gil-penchina-22864_angel_when-i-first-started-as-an-angel-investo_1429710.jpg) [Open image](https://sms4smile.com/quotes/i/822/gil-penchina-22864_angel_when-i-first-started-as-an-angel-investo_1429710.jpg) > “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.” [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Early angel investing involved enthusiasm but lack of knowledge, leading to blind decisions. **In simple terms:** Learning by doing in investing. Key Takeaway Gain expertise before investing. Themes entrepreneurship finance learning Mood cautious inquisitive Type educational practical When to use this quote - startup funding - mentor guidance - networking Key Concepts venture capital due diligence Questions to Reflect On - How can new investors educate themselves? - What resources aid venture capital understanding? A Different Perspective Blind investing can cause costly mistakes. ★ ★ ★ ★ ★ No ratings yet [Angel](https://sms4smile.com/quotes/about/angel/) [Angel Investor](https://sms4smile.com/quotes/about/angel-investor-2288588/) [Bad](https://sms4smile.com/quotes/about/bad/) [Entrepreneurship](https://sms4smile.com/quotes/about/entrepreneurship/) [Excited](https://sms4smile.com/quotes/about/excited/) [Good](https://sms4smile.com/quotes/about/good/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investing Startups](https://sms4smile.com/quotes/about/investing-startups-4071935/) [Start](https://sms4smile.com/quotes/about/start/) [Understand Venture](https://sms4smile.com/quotes/about/understand-venture-5086922/) [Venture](https://sms4smile.com/quotes/about/venture/) [Venture capital](https://sms4smile.com/quotes/about/venture-capital/) ## Related quotes > [I'd been a great angel investor, but professional venture capital was clearly not the right thing for me.](https://sms4smile.com/quotes/mitch-kapor/i-d-been-a-great-angel-investor-but-professional-venture-capital-was/) [Mitch Kapor](https://sms4smile.com/quotes/author/mitch-kapor/) > [If I had a do over, I'd indubitably start investing in startups earlier in life!](https://sms4smile.com/quotes/david-cohen/if-i-had-a-do-over-i-d-indubitably-start-investing-in-startups/) [David Cohen](https://sms4smile.com/quotes/author/david-cohen/) > [You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make…](https://sms4smile.com/quotes/sarah-lacy/you-know-what-works-in-venture-capital-a-group-of-incredibly-smart/) [Sarah Lacy](https://sms4smile.com/quotes/author/sarah-lacy/) > [I am a partner at CrunchFund, a venture capital firm with investments in many startups around the world. I am also a limited partner…](https://sms4smile.com/quotes/michael-arrington/i-am-a-partner-at-crunchfund-a-venture-capital-firm-with-investments/) [Michael Arrington](https://sms4smile.com/quotes/author/michael-arrington/) > [The best part of being an angel investor is seeing these kids coming up with companies that get way more traffic than Reddit had…](https://sms4smile.com/quotes/alexis-ohanian/the-best-part-of-being-an-angel-investor-is-seeing-these-kids-coming/) [Alexis Ohanian](https://sms4smile.com/quotes/author/alexis-ohanian/) > [I am truly an angel investor and I'am not a passive investor.As a passive investor, I am awful because I can not put funding…](https://sms4smile.com/quotes/terry-matthews/i-am-truly-an-angel-investor-and-i-am-not-a-passive-investor-as-a/) [Terry Matthews](https://sms4smile.com/quotes/author/terry-matthews/) > [It is very hip to be an angel investor now. There used to be a dozen, two dozen guys at these demo days writing…](https://sms4smile.com/quotes/chris-sacca/it-is-very-hip-to-be-an-angel-investor-now-there-used-to-be-a-dozen/) [Chris Sacca](https://sms4smile.com/quotes/author/chris-sacca/) > [I'm a very active angel investor in a number of different companies.](https://sms4smile.com/quotes/david-draiman/i-m-a-very-active-angel-investor-in-a-number-of-different-companies/) [David Draiman](https://sms4smile.com/quotes/author/david-draiman/) > [All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.](https://sms4smile.com/quotes/fred-wilson/all-markets-have-boom-and-bust-cycles-and-i-think-venture-capital/) [Fred Wilson](https://sms4smile.com/quotes/author/fred-wilson/) > [When people start talking about venture capital and finances and how to create this and do that, a lot of it, I swear, it's…](https://sms4smile.com/quotes/tony-hawk/when-people-start-talking-about-venture-capital-and-finances-and-how/) [Tony Hawk](https://sms4smile.com/quotes/author/tony-hawk/) > [I delivered lectures, and I was also a consultant for international companies in finance, both private equity and big venture capital funds.](https://sms4smile.com/quotes/ehud-barak/i-delivered-lectures-and-i-was-also-a-consultant-for-international/) [Ehud Barak](https://sms4smile.com/quotes/author/ehud-barak/) > [Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they…](https://sms4smile.com/quotes/charlie-munger/harvard-and-yale-concentrated-with-venture-capitalists-that-got-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them…](https://sms4smile.com/quotes/eric-ries/there-s-nothing-wrong-with-raising-venture-capital-many-lean-startups/) [Eric Ries](https://sms4smile.com/quotes/author/eric-ries/) > [When you - when you - and this is still going on today - are making your money by pushing paper around, when you…](https://sms4smile.com/quotes/howard-dean/when-you-when-you-and-this-is-still-going-on-today-are-making-your/) [Howard Dean](https://sms4smile.com/quotes/author/howard-dean/) > [Unfortunately, 'climate' has become a dirty word - obviously in politics, but even to some degree in my world, in venture capital. People hesitate…](https://sms4smile.com/quotes/evan-williams/unfortunately-climate-has-become-a-dirty-word-obviously-in-politics/) [Evan Williams](https://sms4smile.com/quotes/author/evan-williams/) ## More by Gil Penchina > [When trying to start a company, your enemy isn't criticism, anger or insults. Your enemy is apathy.](https://sms4smile.com/quotes/gil-penchina/when-trying-to-start-a-company-your-enemy-isn-t-criticism-anger-or/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [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.…](https://sms4smile.com/quotes/gil-penchina/when-i-participate-in-a-series-a-deal-with-vcs-entrepreneur-friendly/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day,…](https://sms4smile.com/quotes/gil-penchina/it-s-clear-to-me-now-that-ethereum-is-the-new-currency-of-the/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [I started angel investing because I like hanging out with entrepreneurs.](https://sms4smile.com/quotes/gil-penchina/i-started-angel-investing-because-i-like-hanging-out-with/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull - dragging every entrepreneur with a sense…](https://sms4smile.com/quotes/gil-penchina/ethereum-is-enabling-a-new-form-of-financing-in-icos-that-is-like-a/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [In the U.S., Wikia has content sponsorships with top brands, including Blizzard Activision, Sony, Microsoft, Electronic Arts, ABC Television and others.](https://sms4smile.com/quotes/gil-penchina/in-the-u-s-wikia-has-content-sponsorships-with-top-brands-including/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Whether someone wants to learn the words to a new Lady Gaga song they heard on the radio or to verify the lyrics to…](https://sms4smile.com/quotes/gil-penchina/whether-someone-wants-to-learn-the-words-to-a-new-lady-gaga-song-they/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It…](https://sms4smile.com/quotes/gil-penchina/i-was-one-of-the-early-folks-at-ebay-and-by-1999-it-was-completely/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Along the way, I learned the key to launching a company. It's all about storytelling.](https://sms4smile.com/quotes/gil-penchina/along-the-way-i-learned-the-key-to-launching-a-company-it-s-all-about/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [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…](https://sms4smile.com/quotes/gil-penchina/you-re-under-tremendous-pressure-and-everyone-needs-you-to-be-perfect/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to…](https://sms4smile.com/quotes/gil-penchina/for-merchants-it-is-an-amazing-opportunity-compared-to-paypal-crypto/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem.](https://sms4smile.com/quotes/gil-penchina/any-ico-going-forward-that-doesn-t-use-a-ticketmaster-style-queueing/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0.](https://sms4smile.com/quotes/gil-penchina/mobile-was-internet-2-0-it-changed-everything-crypto-is-internet-3-0/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [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…](https://sms4smile.com/quotes/gil-penchina/crypto-today-is-a-libertarian-paradise-if-you-send-your-money-to-the/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) > [Startups are all about breaking the rules and changing the 'natural order' of things. So let's do that for Series A terms.](https://sms4smile.com/quotes/gil-penchina/startups-are-all-about-breaking-the-rules-and-changing-the-natural/) [Gil Penchina](https://sms4smile.com/quotes/author/gil-penchina/) [Explore all 26 Gil Penchina quotes ](https://sms4smile.com/quotes/author/gil-penchina/) ## More Angel quotes > [A man walks down the street. It's a street in a strange world. Maybe it's the third world. Maybe it's his first time around.…](https://sms4smile.com/quotes/paul-simon/a-man-walks-down-the-street-it-s-a-street-in-a-strange-world-maybe-it/) [Paul Simon](https://sms4smile.com/quotes/author/paul-simon/) > [If I wer an angel,i would make all your wishes come true..but I'm only a girl a girl who loves you.](https://sms4smile.com/quotes/nix/if-i-wer-an-angel-i-would-make-all-your-wishes-come-true-but-i-m-only/) [Nix](https://sms4smile.com/quotes/author/nix/) > [Peace is the first thing the angels sang. Peace is the mark of the children of God. Peace is the nurse of love. Peace…](https://sms4smile.com/quotes/pope-leo-i/peace-is-the-first-thing-the-angels-sang-peace-is-the-mark-of-the/) [Pope Leo I](https://sms4smile.com/quotes/author/pope-leo-i/) > [“Every child is born as angel.”](https://sms4smile.com/quotes/lailah-gifty-akita/every-child-is-born-as-angel/) [Lailah Gifty Akita](https://sms4smile.com/quotes/author/lailah-gifty-akita/) > [“Behind my eyelids, I saw him dancing in spirals of coloured light, emerald, blue, and brilliant purple, enfolding him like the wings of an…](https://sms4smile.com/quotes/alexis-hall/behind-my-eyelids-i-saw-him-dancing-in-spirals-of-coloured-light/) [Alexis Hall](https://sms4smile.com/quotes/author/alexis-hall/) > [All that I am or ever hope to be, I owe to my angel Mother.](https://sms4smile.com/quotes/abraham-lincoln/all-that-i-am-or-ever-hope-to-be-i-owe-to-my-angel-mother/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [I don't think people will ever forget I was an 'Angel,' anymore than they'll forget Sally Field was 'The Flying Nun.'](https://sms4smile.com/quotes/cheryl-ladd/i-don-t-think-people-will-ever-forget-i-was-an-angel-anymore-than/) [Cheryl Ladd](https://sms4smile.com/quotes/author/cheryl-ladd/) > [It's a great story for us whenever an entrepreneur makes a crazy amount of money and we get to tell the world about it.…](https://sms4smile.com/quotes/sarah-lacy/it-s-a-great-story-for-us-whenever-an-entrepreneur-makes-a-crazy/) [Sarah Lacy](https://sms4smile.com/quotes/author/sarah-lacy/) > [I believe in UFOs, I believe in extraterrestrials, and I believe in angels. And maybe they'll protect all of us.](https://sms4smile.com/quotes/shirley-maclaine/i-believe-in-ufos-i-believe-in-extraterrestrials-and-i-believe-in/) [Shirley MacLaine](https://sms4smile.com/quotes/author/shirley-maclaine/) > [Sometimes we have the absolute certainty there's something inside us that's so hideous and monstrous that if we ever search it out we won't…](https://sms4smile.com/quotes/hubert-selby-jr/sometimes-we-have-the-absolute-certainty-there-s-something-inside-us/) [Hubert Selby, Jr](https://sms4smile.com/quotes/author/hubert-selby-jr/) > [Flowers are the alphabet of angels, whereby they write on the hills and fields mysterious truths.](https://sms4smile.com/quotes/benjamin-franklin/flowers-are-the-alphabet-of-angels-whereby-they-write-on-the-hills/) [Benjamin Franklin](https://sms4smile.com/quotes/author/benjamin-franklin/) > [You should never feel lonely, neglected, fearful, or defeated when you remember that there are the shining ones. They are watching with keen interest…](https://sms4smile.com/quotes/flower-a-newhouse/you-should-never-feel-lonely-neglected-fearful-or-defeated-when-you/) [Flower A. Newhouse](https://sms4smile.com/quotes/author/flower-a-newhouse/) > [Hark the herald angels sing, 'Glory to the new-born king.' Peace on earth, and mercy mild, God and sinners reconciled!](https://sms4smile.com/quotes/charles-wesley/hark-the-herald-angels-sing-glory-to-the-new-born-king-peace-on-earth/) [Charles Wesley](https://sms4smile.com/quotes/author/charles-wesley/) > [Man was created a little lower than the angels and has been getting a little lower ever since.](https://sms4smile.com/quotes/josh-billings/man-was-created-a-little-lower-than-the-angels-and-has-been-getting-a/) [Josh Billings](https://sms4smile.com/quotes/author/josh-billings/) > [Mooner was walking around laying his hands on the cars, divining karma. "this is it", he said, standing by a small khaki-colored jeep."this car…](https://sms4smile.com/quotes/janet-evanovich/mooner-was-walking-around-laying-his-hands-on-the-cars-divining-karma/) [Janet Evanovich](https://sms4smile.com/quotes/author/janet-evanovich/) [Browse all 4,625 Angel quotes ](https://sms4smile.com/quotes/about/angel/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "When I first started as an angel investor, I was excited to start investing in startups - but I didn't know much. 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