Jason Calacanis

The book has some good rules of thumb, but is largely an autobiographical account and therefore will not be very useful as an outline to follow in the author's footsteps to amass wealth. As an autobiographical account, it is an interesting, quick, and entertaining read. My concern is that some might view the book as a formula to follow to achieve financial independence, which it is not. (It might be a formula for a millionaire to become a billionaire if they work hard enough, are lucky enough, and cultivate the correct contacts.) For those looking to get-rich-quick, the reality is that Federal securities laws limit investment into private companies to Certified investors (people with 1 million dollar liquid net-worth). Libertarians will view this as an elitist tool for the rich to get richer but the truth is that the limited liquidity and high risk of such investments really justify SOME limitations. Exceptions exist for the board of directors and management of the company, so the founders can invest in their own company. Friends and family also tend to invest in startups and I suspect that the government gives a "blind eye" to such relatively benign violations of the securities laws. Also, some new crowdfunding options are expanding investment opportunities in some "pre-vetted" high tech incubators. The author's language is often blunt if not crude, but this helps convey the "macho man" culture present in this male-dominated venture capital / angel investor world. (I have actually witnessed a little bit if this in my own real-world experience.) In summary, an entertaining biography which gives some insight into the fast-paced world of high tech investing.… (mer)