My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“you're much more likely to be able to take fifty a hundred thousand dollars start a business and get to like a million dollars in revenue”
What It Means
Starting your own business has higher success probability than angel investing
Why It Matters
Challenges conventional wisdom that investing in others is safer than starting your own company
When It's True
When you have distribution, operational capability, and market understanding
When It's Risky
When you lack market knowledge or operational skills in the business area
How to Apply
Evaluate your own business ideas against angel investing opportunities
Consider starting businesses in areas where you have advantages
Use as framework for capital allocation decisions
Example Scenario
“Content creator with large audience choosing to start job board rather than investing in 10 early-stage companies”
Related Knowledge
Capital + Distribution Framework
A business building approach where you leverage existing capital and distribution channels to launch multiple products/services rather than operating them directly.
Transition from advertising revenue to owning the products you promote
Higher revenue per audience member, better margins, and more sustainable business model
Higher Success Probability with Own Business
The probability of making money starting your own business with 50-100K is higher than angel investing the same amount
Young contrarian people create the most interesting opportunities
Seek out and work with young people who think differently rather than traditional high achievers
historically you built a company by building the product and then going and looking for customers no
The internet enables audience-first business building instead of product-first approaches
For early-stage investing, personal investment often beats fund management economically
Fund carry structure and management fees reduce returns compared to direct personal investment, plus you eliminate LP ma