Things I would stay away from : long 'ordinary' stocks, single family home residential real estate in most places (except somewhere to live), cash or near-cash like bonds/cds, growth based companies, anything that is relying on government policies/subsidies to create a profit. Stick to modest leverage.
My belief is that we're going into a short period of deflation (<5 years) followed by 10-20 years of solid inflation as governments inflate their currencies to get rid of debt. You want to own something real that earns money (commercial RE), something that works off volatility (automated hedge fund), something that has low probably/high payoff across a number of bets, and something as a protection against inflation (precious metals). Debt is OK as long as leverage isn't too high (to weather the deflation problems)
The other 100K I'd use as runway to do my own startup, or the project (not startup!) of someone else I trust. From there, who knows?
I'm not convinced it's a good idea to jump into startup angel investing with such a small (!) amount of net worth. If you can't participate in follow-on rounds your 10% of the company gets diluted to 3%, then 0.5%, then nothing much at all.
If you received the money from the lottery or from inheritance, you are looking for a way to quit your job flipping burgers and you insist on high risk, then put all your money on red or black on a European Roulette table. If you win, then quit while you are ahead and move your risk outlook to low. If you lose, then at least you lost it quick rather than painfully watch it dwindle over the course of months / years on bad investment advice from total strangers.
"In an unstable economic environment, the only safe investment is... PORN" -- Avenue Q
