+1. I have 3 IPOs and numerous acquisitions, across multiple industries. It's still 50/50 but that's way better than the long odds most people face.

Also agree that it depends on your goals! I've done venture capital deals, self funded deals ("lifestyle"), non-profit & political campaigns, etc - and different stages and goals.

Obviously YMMV: I know people who legit get lucky and then their luck runs out, and I know smart guys who do everything right and can't catch a break.

It's also fun to angel invest. Get to see dozens more companies from (a bit) of the inside.