Shaan Puri built a $4M/year rolling fund entirely from his podcast and Twitter audience, hitting AngelList's 99-LP cap without traditional fundraising, and uses his personal audience as a tangible asset to win deals by offering founders both capital and distribution through his media platform. He explicitly frames early-stage investing as "largely dumb" on a risk-adjusted basis to filter for LPs who understand the illiquidity and entertainment component, while running small checks ($10K-$50K) across sectors through an opportunistic, network-driven approach rather than a traditional thesis.