Investing in startups should not just be about making a difference; you should also consider the potential for returns on your investment.

You should evaluate each investment opportunity on its own merits, regardless of past failures in that space.

When it comes to valuation, don't get hung up on your first round's valuation; the most important thing is to close the round and get back to work.

Choose your valuation carefully; too high can scare off investors, while too low can lead to excessive dilution. The goal is to get the money in the bank and get back to work. Don't over-optimize your fundraising process; focus on the essentials instead.

Investors matter significantly because they influence short-term versus long-term trade-offs; in my view, 90% of investors add no value, and 70% add negative value to a company.

When investing, it's important to be clear about your criteria and what would convince you to take the risk, especially if you're the only investor at that moment.

It's crucial to understand that raising venture capital is a business transaction, not a personal one; investors expect a return on their investment based on the potential for profit.

Don't over-optimize for valuation caps when raising money on SAFEs, as the difference in ownership percentages may not be significant, and the focus should be on making the company successful instead.

Valuation refers to the estimated worth of a startup based on the last investment round, but it doesn't guarantee a liquid market like in public companies, making it more of a measure of perceived value.