Thursday, September 28, 2017

Jason Calacanis author of "Angel" says you are screwed

Medium.com:

(snip)

Still, Calacanis is offering a much more dismal view of the disruptions caused by tech — and a more radical, if also self-serving, plan for dealing with it. To survive the coming earthquake, he advises, you need to radically re-examine your plan for the future — and you need to learn Silicon Valley’s ways rather than expect to defeat it.

“Most of you are screwed,” he writes in “Angel,” arguing that a coming revolution in robotics and artificial intelligence will eliminate millions of jobs and destroy the old ways of getting ahead in America. “The world is becoming controlled by the few, powerful, and clever people who know how to create those robots, or how to design the software and the tablet on which you’re reading this.”

Calacanis is not wholly optimistic about where all this change will lead. “In my mind, candidly, we’ve got a 70 percent chance of figuring out this massive sea change without starting a full-on revolution in the streets, like we saw in Greece or Egypt, or any other place where unemployment among young adults breaks 20 percent,” he writes in “Angel.”

I have been saying something similar for a while. People are not keeping up with the technological changes that are happening in the world. Most jobs will be going away over the next 20 years. There will be quite a bit of disruption socially, economically, and politically.

I am not sure how it will shake out but I think people need to be paying attention to what is going on technologically for their own good. I have read Calacanis's book and it is real good and lays out how he goes about being an angel investor. He has been very successful in that he has invested in six unicorns. A unicorn being a company that has achieved a $1 billion dollar plus valuation.

The problem is that most people are not accredited investors and cannot take advantage of "angel investing". However that is beginning to change with sites like SeedInvest, Start Engine, and WeFundr.

I have actually begun investing in a few early stage companies through some of those sites.

The thing that I noticed about Calacanis and what I like about him is the fact that he seems to want to broaden the access to angel investing to a bigger audience and smaller investors. I listen to his podcast "This Week in Startups" and he is constantly asking guests what they think about these new funding platforms and what they think about broadening access to these deals.

Know going in that investing in these early stage companies is risky and most of them fail. That is why Calicanis advises making mulitple bets over a 10 year period as it takes years for even the successful companies to pay off.

I recommend his book and listening to his podcast.

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