What is the business model of SV Angel?

My answer to that Quora question reprinted here: SV Angel invests in and advises startups. We make money when these startups have a “liquidity event,” which is historically an acquisition or public offering. We invest other people’s money. We invest our own money too–this is called a “capital contribution”, which is required of most funds. […]

Warren Buffett’s Definition of Investing

From the Berkshire Hathaway 2011 Letter to Shareholders: with my edits. Read the whole thing here: (link) Investing is often described as the process of laying out money now in the expectation of receiving more money in the future. At Berkshire we take a more demanding approach, defining investing as the transfer toothers of purchasing […]