Why Angel Investors Don’t Make Money … And Advice For People Who Are …

Why Angel Investors Don’t Make Money … And Advice For People Who Are …
News from TechCrunch:

Editor’s note: Andy Rachleff is President and CEO of Wealthfront, an SEC-registered online financial advisor. He serves as a member of the board of trustees and vice chairman of the endowment investment committee for University of Pennsylvania and as a member of the faculty at Stanford Graduate School of Business, where he teaches courses on technology entrepreneurship. Prior to Wealthfront, Andy co-founded and was general partner of Benchmark Capital.

Everywhere I go in Silicon Valley I hear people discussing their angel investments. The conversations remind me of fish stories. People love recounting the one time they caught a big fish, not the many futile hours they spent waiting for a bite.

My skeptical perspective on angel investing is colored by my 25 years in the venture capital business and the data I use to teach my students at the Stanford Graduate School of Business.

I know that many of our clients at Wealthfront are tempted to become angel investors after they sell their company stock post-IPO. It’s not that I think becoming an angel is a bad idea; it’s just that most people who expect to make money as angel investors are fooling themselves.

To understand why I think this way, bear with me for a few paragraphs about what makes vent…………… continues on TechCrunch

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BBB Tips: Grandparent Scam on the Rise, Investment Scams
News from Patch.com:

Grandparent Scam on the Rise – Know the Red Flags

Seniors are often a top target for scammers, so it’s important they know how to identify signs of potential scams. Chief among these fraudulent schemes is the “Grandparent Scam,” wherein phone calls or emails attempt to fool seniors into thinking their grandchild (or a loved one) is hurt – or arrested and stranded in a foreign country – and in desperate need of money. The Better Business Bureau of Minnesota and North Dakota (BBB) provides some pointers on how to spot and avoid this scam.

The “Grandparent Scam” has been around since 2008, but there has been a surge recently. Retirees are an attractive target for financial scammers. Schemes like this one play off of people’s emotions and strong desire to help loved ones in need. Scammers impersonate their victims and make up an urgent scenario – “I’ve been arrested,” “I’ve been mugged,” “I’m in the hospital” – and target friends and family with urgent pleas for immediate financial assistance.

The BBB offers the following tips to avoid the Grandparent Scam:

Communicate. People should share travel plans with family members before leaving the state or country.

Share information. Contact information – such as the cellphone number and email address of a travel companion – should be shared in…………… continues on Patch.com

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