“These investors, known as “super angels” because they have mostly moved on to launch small venture funds of their own, are all friends of mine.”
—So A Blogger Walks Into A Bar…
Rafer sez:
As stated a few dozen times, angels only manage their own money. Everyone else is a VC, by whatever trendy name, and their incentives are ever increasingly divergent from founders. They are almost always great people, but that doesn’t correct the problem.
It’s tempting to advise founders to offer ONLY convertible notes. Shall we gang up publicly to that end?
(via rafer)
