Mike Arrington kicked off a tempest in a teapot yesterday with his harmlessly titled post “A Blogger Walks Into a Bar” that alleges a price fixing conspiracy for angel investing. I don’t claim to know what happened at the meeting, but I fully concur with Fred’s assessment that there is no evidence of any fixing (only the opposite). Also, the idea that a small number of individuals could collude meaningfully in the early stage market – even if they wanted to – is bogus to begin with. There are way too many participants in that market for that to ever work!
Finally, I do know at least two people who participated well - Bryce Roberts and Dave McClure. We are co-investors with both and they are terrific champions for entrepreneurs. Which, by the way, doesn’t mean that they won’t sometimes complain about valuations - we all do! You can and should read Bryce’s comment on the matter here and Dave has a great post.
