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This Week in Startups · August 20, 2025 · 65m
State of Angel Investing 2025: What Has Changed
Calacanis surveys the angel investing landscape in 2025: AI has changed what startups are viable, valuations have normalized, and the bar for founder quality has risen.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Canon
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The investment environment (available capital, popular sectors, investor preferences) determines which startups founders choose to build. In an AI-hot environment, everyone builds AI startups.
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Calacanis describes the gap between startup pitches (polished, optimistic false self) and startup reality (messy, uncertain true self), and how experienced investors learn to see through the presentation.
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