Billions not a must-have for angel investors

A little risk, a lot of research and a few big wins ensure wings don't get singed

JUST about every major tech success - from Facebook to LinkedIn to Instagram - started with angel investors taking a chance. These risk-takers ended up being richly rewarded for their early investments, and no doubt they have inspired would-be angels to search for the next big thing. Such success, though, is highly unlikely in the dicey business of angel investing. Many investments go to zero, or they languish in a startup that never really takes off or attracts buyers. It's no wonder people brag so fulsomely about the winners.

David S Rose, a prominent angel investor in New York and a member of one of the city's wealthiest real estate families, argues in his new book, Angel Investing: The Gust...

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