[ SOUND ] Speaking of investing, let's talk about that for a minute. You are, have been a really successful angel investor. You've invested in Uber, Facebook, Twitter, Alibaba, and 2014's CB Insights listed you sixth On its list in the top 1000 in angel investors. But you gave it up, you stopped doing it. I did. Tell me why. Well, I think that right now there are, or at least at the time, I haven't tracked it very closely since I'm out of the game. But there are a lot of fair weather investors and a lot of fair weather Entrepreneurs and that's created a glut of or I should say surplus, I'll make it more polite, surplus of capital and it has made it more difficult to vet inbound Deal flow. And that creates a lot of noise and the signal to noise ratio is just very unfavorable so my job has become much more difficult. And I realize to do that effectively, even though I'm still only using my own money, although I have done a number of syndicates that I think have been very successful on Angel List I realized that I would need to probably build a fund and do it more full- time if I were to do it properly and not be irresponsible. And I didn't wanna do that. I would have had to give up other parts of my life that I think are more aligned with maybe some of my Stronger suits like the writing and the teaching and the experimenting. And I had a close friend of mine who's also an investor say please don't stop writing. And he gave me a bit of a talking to, very heartfelt lecture and so I decided to call it quits. And I will be back, I intend to work with entrepreneurs for decades but I'll wait until there's blood in the streets and then Only the die- hard will remain, and those are the people I wanna bet on. [ SOUND ] [ BLANK_AUDIO ]

Why Tim Ferris Quit Funding Startups