Things I wish someone had told me before I started angel investing

Things I wish someone had told me before I started angel investing blog post shares some insight into what it takes to be an angel investor, and how much failure one will probably go through before getting any kind of success.  Like with everything, it takes time, money, and effort to learn the intricacies.

Actually, the needle-in-the-haystack is not quite the right metaphor.  There is a small cadre of people who actually have what it takes to successfully build an NBT, and experienced investors are pretty good at recognizing them.  Because of this, they don’t have trouble raising money.  As I mentioned earlier, one of the reasons people get into angel investing is because they think it’s more fun to be the beggee than the beggor.  But the cool kids don’t beg.  The cool kids — the ones who really know what they’re doing and have the best chances of succeeding — decide who they allow to invest in their companies.  And they want investors who have been around the block, who know what they are doing, who have a thick rolodex of potentially useful contacts, and most importantly, deep enough pockets to do follow-on investments, and thick enough hides not to complain if things go south.

If you want to make money angel investing, you really have to treat it as a full time job, not because it makes you more likely to pick the winners, but because it makes it more likely that the winners will pick you.

If you’re not ready for that, you will be much better off financially buying index funds.

Omnipay – framework agnostic, multi-gateway payment processing library for PHP 5.3+

Omnipay is yet another multi-gateway payment processing library for PHP 5+.  Have a look at documentation and examples here:

Omnipay is a payment processing library for PHP. It has been designed based on ideas from Active Merchant, plus experience implementing dozens of gateways for CI Merchant. It has a clear and consistent API, is fully unit tested, and even comes with an example application to get you started.

Coming from The League of Extraordinary Packages, it seems to be a more popular solution than Payum and the others.  It also looks like Omnipay supports way more gateways than any other payment processing library that I’ve seen.  Here’s the list of the officially supported gateways.  Here’s the list of the third-party contributed gateways. And, of course, you can build your own.

Payum – PHP 5.5+ payment processing library

Payum – PHP 5.5+ payment processing library, which is self-described as:

It offers everything you need to work with payments: Credit card & offsite purchasing, subscriptions, payouts etc.

The documentation looks extensive, and the list of supported gateways is probably the longest I’ve seen.

Money vs. happiness

It’s been said many times that you can’t buy happiness with money.  The Washington Post runs the article about the research that begs to differ:

Not only did the extra income appear to lower the instance of behavioral and emotional disorders among the children, but, perhaps even more important, it also boosted two key personality traits that tend to go hand in hand with long-term positive life outcomes.

The first is conscientiousness. People who lack it tend to lie, break rules and have trouble paying attention. The second is agreeableness, which leads to a comfort around people and aptness for teamwork. And both are strongly correlated with various forms of later life success and happiness.

Bitcoin is a money platform with many APIs

Bitcoin is a money platform with many APIs

Bitcoin is much more than just a digital currency. It is a protocol, a network, a currency and a transaction language. Most of all, though, it is an application programming interface (API) for money. Nowadays, bathroom scales and fridges have APIs, so why not money?

Traditional money does have APIs, but they are closed. You can program the merchant API of the VISA network if you are a trusted merchant. You can send and receive FIX messages if you are a stockbroker or exchange. Regular people, however, don’t even have APIs into their bank accounts, let alone the broader economy. Bitcoin changes all that by not only offering an API for accounts (wallets) and transactions, but also making that API available to everyone.

Gittip – inspiring generosity

Gittip – inspiring generosity

WHAT IS GITTIP?

Gittip is a way to give small weekly cash gifts to people you love and are inspired by.

Gifts are weekly. The intention is for people to depend on money received through Gittip in order to pay their bills, and bills are recurring.

Gifts come with no strings attached. You don’t know exactly where your gifts come from, and the maximum gift from one person to another is $24.

Gifts are public. The total amount you give and the total amount you receive is public. Participants on both sides of the equation are rewarded publicly for their participation. (You can opt out of publicly displaying your total giving.)