As a fairly active angel investor, I get pitched by entrepreneurs eight to 10 times a month. The founders generally aren't looking to become the next Facebook or Zappos, but want to build a successful business that will allow them to achieve financial independence and make a mark in the world. Those happen to be the kind of startups I like. When I invest, I always insist on owning 51 percent of the stock until I've earned back my principal (whereupon I become a minority shareholder with a stake we negotiate up front). At that point, most people lose all interest in my investing, which is fine with me. If they don't have confidence that the business will be successful enough to pay me back and leave them in full control, why would I give them my money?
