"...and get the very best of the guilder-investing angels in their round."
I can understand the reasoning but are the 'best' of this pool as good as those from the dollar-pool? Wouldn't the really good/useful ones be trying to enter the dollar-pool anyway? (NB I'm not aware of the back-story yet)
Edit: Just read both pieces and I agree that they're both right. I see this as a difference between Angel vs VC. Angels sometimes get involved because they can imagine having a useful impact on their portfolio. If an Angel takes a tiny slice of a company which also has VCs and 'YC valuations' then they may feel they have no real 'clout' or ownership in the company (not everyone wants a board seat). Even though the economic argument may be to take-whatever-you-can-get that doesn't make it fun or worth your time.
I can understand the reasoning but are the 'best' of this pool as good as those from the dollar-pool? Wouldn't the really good/useful ones be trying to enter the dollar-pool anyway? (NB I'm not aware of the back-story yet)
Edit: Just read both pieces and I agree that they're both right. I see this as a difference between Angel vs VC. Angels sometimes get involved because they can imagine having a useful impact on their portfolio. If an Angel takes a tiny slice of a company which also has VCs and 'YC valuations' then they may feel they have no real 'clout' or ownership in the company (not everyone wants a board seat). Even though the economic argument may be to take-whatever-you-can-get that doesn't make it fun or worth your time.