Phil Nadel

They're building a large portfolio.

But the individuals who are investing smaller amounts, it's more meaningful to them, and they are actually doing quite a bit of helping.

Well, yeah, and they're doing a lot for the companies, not just talking about it or tweeting about it, but making introductions, really doing like some significant work, which is great.

And there's no obligation to do that, but they do it because they have a vested interest.

I'm so glad you asked that.

First of all, the deals are only available to accredited investors.

I see.

And explain to my audience what that means.

Sure.

So an accredited investor, you have to meet certain criteria in terms of net worth or annual income.

And there are multiple criteria you can use.

But you

have to be a sophisticated investor and have a significant net worth or annual income.

So the example you used of a grandmother sitting around wanting to put $1,000 in, she might not be an accredited investor and probably won't qualify.

The other thing is, we are very careful about sharing upfront with anyone who applies to be in our syndicate a little bit about startup investing and the risks involved.

So we're very clear that it's likely you're going to lose your money on each individual investment, right?

And the idea is to build a portfolio.

Don't invest in one or two or three companies.

Build a portfolio that's diversified, because

Odds are you're going to lose your money in any one particular deal.