weighing on this, angel investor jason calacanis, the ceo of inside.com. great to be here. >> you had a bit of a tweet storm on this wrap up your thoughts on what exactly is ailing twitter this time. >> the ceo transition is not super smooth. to get on the conference call and talk about all the bad things about the stock and the company. think is a little mistake. >> you have to have some clarity on what jack's role is going to be, jack is super-talented, super smart. do we know if he wants the job? is he saying if he wants the job or not? i think having a lot of clarity there would have a long way. so people could say jack's the guy or jack's not the guy. that lack of clarity is definitely hurting things. >> you said can't tell if he wants job or is being mensch by holding down the fort. >> he is in love with the company, he started it. he created one of the greatest technology products of this generation. if you want that job you have to say i'm in the running for this job, i'm going to take this job and leaders define reality as we know and the reality

joining us angel investor jason calacanis joins us.in march, a post about what would happen to funding if the market itself lost 50% of its value. are any of the lessons you wrote back then applicable today? >> absolutely. what happens when the market goes down is that angel investors and even venture capitalists, even though they have a fixed funding amount. they raise the fund for seven years, they get a little conservative, they feel less rich. they feel like placing less bets and the hurdle goes up. when things are optimistic and the a market is going up 10, 20% a year you get a loose type of investment straemg. which is i like this person, i like this idea and people don't do as much due diligence. and over the last week i've seen a lot of deals go into essentially hibernation and a pause. let's re-evaluate the deal. let's look at the valuation, let's take a look at the burn of the company and let's take a look ultimately at can this company be profitable. >> we're straight out of the gurley school of economics, here, right? all o

joeng us this morning to talk about that and more is angel investor and inside.com founder, jason calacaniswe want to get your reaction to the headline we covered last week. about zirtual. the article mentions you by name. used as an example about a trend of start-ups that are running out of patience when it comes to their investors, is this true? >> so zirtual was a really strong company doing an $11 million a year run rate with probably $4 million in a year in losses which would put it in an elite category in the valley. investing to get growth and i would say on the way to being a unicorn and it was just very unfortunate. you had a product that people loved and you had an employee base that loved doing it. but there was a little bit of mismanagement on the board and with the finances and they went down to the last minute to raise their funding in the summer. some investors pulled out. this happens from time to time. it's not an over-arcing trend in our industry. but it does happen. it's a very difficult game, the start-up game and sometimes funding gets pulled at the last minute and comp