if it were making such investments in the same spirit as before, it wouldn't also call $120K a "small amount of money" on its front page. I think what I object

if it were making such investments in the same spirit as before, it wouldn't also call $120K a "small amount of money" on its front page. I think what I object to is the silent change from investing an average of $18K to investing $120K and still calling the latter a small amount of money. It's really not. also let's be clear: from an investment standpoint, investing $12K instead of $120K means that startups can do ten times worse while still being a free investment. put another way: a tenth as many need to succeed to be free. People behave very differently under such conditions of risk! Also investing $12K made them an investor of first, last, and only resort for startups that needed that. sorry, anecdotally this is actual fact. granted, this does not describe most startups, just a few.