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Summary
SamNav editorialEveryone claims that they understand the power law in angel investing, but very few people practice it. I think this is because it’s hard to conceptualize the difference between a 3x and a 300x (or 3000x) return....
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Everyone claims that they understand the power law in angel investing, but very few people practice it. I think this is because it’s hard to conceptualize the difference between a 3x and a 300x (or 3000x) return. It’s common to make more money from your single best angel investment than all the rest put together. The consequence of
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Original source
Read the full essay on Sam Altman's blog
blog.samaltman.com/upside-risk
Opens the original in a new tab · last reachable 2026-06-05