Ilya Strebulaev: Are Angel Investors the New Disruptors? | Stanford Graduate School of Business

“Thanks in part to the plunging cost of technology, angels have enjoyed a growing competitive advantage in funding very early stage companies. That’s because the capital required for a tech startup today is often a fraction of what it was 10 or 15 years ago. Using open-source software and cloud computing, for example, a startup that might have once required $5 million to get off the ground can often do it for $500,000 today.”
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