Dec 03, 2016 05:00 AM EST

Michael Phelps Diving Into New Territories In Tech Investments: 'I Would Love To Get Involved'

By JC Santos

Michael Phelps is a Champion Olympian Swimmer with 28 Olympic Medals under his belt must know the recipe to succeed in life. Or maybe not as he still is a "green" investor. In a software conference in California, the Olympic Swimmer expressed his sincere interest in investing in tech having participated in several ads for tech sponsors himself the last few years.

Michael Phelps plans to dive into a world of tech. According to USAToday.com, Michael Phelps attended the Intuit software conference in San Jose, California with the interest of investing in tech. Talking to the press, he said, "I would love to get involved. Whether it's a couple little startups here and there, take a little risk, have some fun and see where it goes."

This might be the next chapter for Michael Phelps. According to The Washington Post, Michael Phelps has thrown in the towel in Rio in this year's Olympics. He has filed paperwork that removes his name from the US drug-testing program. The removal of his name in the registers means he cannot participate in any high-level competition.

Observers said Phelps must understand the risks of investing in tech. Like all businesses and corporations, everything promised by startups and developers still has a 50 percent chance of failure. Businesses -- like properties -- can be caught in a bubble that could deflate investors' assets with millions or even billions of dollars worth lost in the process.

Tech investments that truly pay off are amazing. SpaceX -- led by Tesla CEO Elon Musk -- is currently pioneering in rocket engineering to propel the world's first space tourism industry. Tesla itself is a product of great tech business management as it produces the world's most efficient electric sedans.

If Phelps can understand the business of his prospective startups and the technologies' potential to grow and evolve in the future, he -- and other individuals planning to invest in tech in the future -- can gauge whether he is making a fruitful investment. As Phelps has mentioned it means to "take a little risk" and of course, have fun and let the startup do its work.

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