Ron Conway Bitchslaps The ‘Super Angels’

Ron Conway, who I think very highly of, bitchslaps in email the so-called ‘super angels’ who apparently are involved in activities that might be construed as collusion or acting as a cartel.

Some excerpts from the Conway email that MG Siegler got his hands on:

I want to clarify once and for all my total disagreement with your values and motives for being investors.

I have stated consistently for year that I invest because I love helping entrepenuers and watching them learn and succeed.

I am honored that entrepenuers share their crystal ball views of the future of innovation and technology with us and respect the guts it takes to start a company.

At SV Angel we try to reciprocate by adding value any way we can.

I think that actions speak louder than words and SV Angel has always been a friend of entrepenuers and we focus our business to help entrepenuers achieve success.

The world of startups would be a better place if you spent less time complaining about deal structures, terms, vc’s, and valuations etc and the cars you drive, and just helped entrepenuers build their companies.

[…]

In my opinion your motives are driven by self serving factors around ego satisfaction and “making a buck”.

My motives and values are very different.

They are so different I want to be up front with you and recognize this and disengage from any involvement with you. I will not be a hypocrite.

[…]

I wish the Angel community could have the same integrity and values of the entrepenuer community, but unfortunately I now believe that is hopeless and your actions prove that.

[…]

Dave McCLure…pls try not to blog about this and cause silicon valley more embarrassment with your unprofessional classless writings.

I have nothing more to say, since Ron sums it up so well.

Update 2:25pm: Umair Haque adds some probing comments, wondering why super angels have the role in the ‘ventureconomy’ that they do:

A 21st century ventureconomy, just like other 21s century industries, will be built markets, networks, and communities. Ask yourself: why aren’t there transparent markets for venture finance? Liquid networks to let resources be shared, pooled, and remixed amongst aspiring entrepreneurs and seasoned investors? Transparent, self-organizing communities to pool, aggregate, and filter knowledge, access, and even investment ideas?

Imagine a Kickstarter writ large, that could harness the collective will of millions of participants, and undercut the super angels.