Things I wish someone had told me before I started angel investing
1) key employee has an old discounted investment make them independent and they take flight (didn&#x27;t see that coming.. they seemed all in)<p>2) dot-com bubble and crash. Simultaneously freezes investment and convinces everyone that internet related startups are hokum. We survived and exited at less than a quarter what we would have had. It didn&#x27;t matter that we had positive cash flow and gazillions of thrilled customers.<p>3) major media company quietly puts copyrighted material onto your system, sues you for copyright infringement based on that  same material and spends years in discovery. You win, but lose.<p>4) the very clever marketing guy your investees just hired turns out to be a plant by the giant competitor who leaks your marketing plans like a sieve back to self-same giant competitor.<p>There are gazillions of other things the universe can do to you.