#Angelgate has been fascinating for the last week.
I have my own thoughts on the topic of course that I have mainly left in comments.
There was me thinking the whole point was to form a syndicate
- Better deal flow
- Stronger negotiating position
- More value add with varied skills and contacts
- Dispersed risk
- A players working with A players
Who wants to invest their money (or that of their LPs) with someone who isn’t maximising the chance of success.
Success is the balance – if the deals don’t maximise the chance of success of the startup then the investment strategy fails.
This also has parallels with the disturbing trends in Internet Marketing that are also being likened to collusion.
I also understand that the more (legitimate) money someone makes selling training or services to online marketers, in theory the better they can serve their customers.
You could also look on any form of press embargo as collusion – those with access to news in advanced have commercial advantage.
Would access to news in advance influence the tone of news coverage? Who wants to shoot the goose that lays the golden eggs after all?
Does it affect reviews in some industries? If someone has written a negative review of one of your products in the past, are you more or less likely to get access to review a product in the future.
Is being given beta access as a member of the press or a blogger with the future intention of writing about it in some way collusion? In some ways I think it is.
Confidential Letter – Redacted
In the latest episode of Angelgate Michael Arrington has posted a confidential letter from Chris Sacca to some of his fellow “Super Angels” – it is 3000+ very passionate words and a very interesting read.
But one section of a highly personal nature has been redacted.
Chris Sacca email
My days have been driven by a passion that makes it impossible for me to avoid the opportunity to help. Right now, 94% of my net worth is tied up in startups and I [REMOVED BY TECHCRUNCH]. I have every shred of my money alongside my founders, often buying their same common stock. No one but an obsessive idiot would ever allocate their money that way. But, I love what I do. And I know that goes for everyone on this list.
[REMOVED BY TECHCRUNCH] hmm?
I have already seen on Quora one person ask what could possibly have been removed from that 3000 word email that could possibly be more personal, and a few comments on techcrunch have jokingly added some suggestions.
So Lets Have Some Fun With It
Complete this sentence in the comments
Right now, 94% of my net worth is tied up in startups and I [REMOVED BY TECHCRUNCH]
Thus: Right now, 94% of my net worth is tied up in startups and I wish I hadn’t invested in Crunchpad.
Here is a template if you want to do your own.
- Keep it family friendly
- Stretch the truth as much as possible
- We want dead ringers to be redacted (for whatever fictional reason)
- This is just for fun/humor
For anyone who hasn’t been following this story for the last week here is a quick recap, but there have been 100s of posts.
- A Blogger Walks Into A Bar
- Dave McClure Gets Mad
- Dave McClure Gets Really Mad
- Ron Conway Goes Nuclear
- Ron Conway Clarifies
p.s. I have no idea if Chris has any connection with Crunchpad in the slightest, but if he did, a reference like that in the email would be a dead ringer to be redacted.
For another view of the troubles in Internet marketing Dan Thies (with a new blog) is well worth a read.
p.s. Dan seems to be testing duplicate meta tags (my tests show Google take the most restrictive)