For purposes of this question, I'll divide my deals into three categories. 1. (the rarest).. those where I have enthusiasm for the team and business model and the company has strong early traction; 2. those where I like the team and/or market and/or traction... but there are aspects that to evolve: the team is incomplete, or the traction inconsistent, etc.; and 3. those where I'm taking a "flyer"... too early to show any traction, and/or something more than usual missing about the market... but where my gut says the team will (might) figure things out.... where I make a small intuitive bet often as little as $5-$10K.. occasionally more. I'm likely to put categories #1 and #3 on AngelList. I like sharing the ones I think will be winners (but you shouldn't count on it... some of my biggest losses have been in category #1. and giving you a shot at joining me in a "flyer" (category #3).