I’m not lpolovets but I do angel invest and my take is the math really does only make sense if you get a few big hits... which would imply the only rational ang

I’m not lpolovets but I do angel invest and my take is the math really does only make sense if you get a few big hits... which would imply the only rational angel/VC strategy is only invest in ones with big potential (and diversify). And that’s what I try and do. That said, I have seen that a lot of small seed funds and new angel investors (most are new!) like to say that they’re happy with lots of small wins. I dunno if it’s just their way to show how they “think different” from the conventional wisdom (of “go big or go home”), or it’s just to seem more down to earth and approachable to not turn off potential deal flow, or just because they are really new and haven’t actually done the math (or are more risk-adverse than they probably should be in this line of work). But then, when push comes to shove, I haven’t seen any ACTUALLY invest when they honestly don’t believe it could be a $100M+ exit.