The Diligent Observer Podcast

Episode 50: "Crush the Cost of Diligence" | Serial Entrepreneur Wade Myers on Systematic Founder Scoring, 30 Years of Investment Lessons, and The Future of Angel Investing

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Today's episode explores three ideas that caught my attention:   

  1. Binary scoring reduce bias - Wade's yes/no questions (vs typical “tell me a story” questions) help address the "I like every founder" problem.  
  2. Transaction fees align incentives - Wade's preference for paying only when deals close checks out with many other conversations I’ve had in recent years. Perhaps the next evolution for angel investing in community? 
  3. Scarcity really does drive urgency - Wade's amazing “fax machine story” illustrates how scarcity and momentum create investor FOMO.  

I explore these ideas and more with Wade Myers, Co-founder and General Partner at Eagle Venture Fund. Wade Myers brings a unique combination of military leadership, strategy consulting expertise, and 30 years of angel investing experience to early-stage capital allocation. As a former U.S. Army Airborne Ranger and Boston Consulting Group veteran with a Harvard MBA, he has invested in 150+ ventures while building systematic processes that filter through 20,000 annual pitches. Currently serving as chairman of a venture studio and partner in multiple investment funds, Wade has pioneered data-driven approaches to founder assessment that challenge the traditionally informal nature of the angel ecosystem. 

During our conversation, Wade shares: 

  • Binary yes/no assessment questions that capture founder culture fit, perseverance, and business acumen without lengthy application essays. 
  • Why 90% of angel network inefficiency stems from poor founder-investor matching and how marketplace mechanics can solve this problem. 
  • The allocation strategy conversation every new angel needs - from calculating liquid net worth ratios to identifying where you can add immediate value beyond capital. 

Connect with Wade 

LinkedIn

Stuff We Reference 

  • JP Morgan
  • Boston Consulting Group
  • Techstars 
  • Plug and Play
  • Goldman Sachs
  • Startup Grind

     

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All opinions are personal and may not reflect the views of The Diligent Observer. Not investment advice.

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The Diligent Observer PodcastBy Andrew Kazlow