The Amazing Response To My War Against Sleazebags Who Charge Startups To Pitch

Over 1,000 people have contacted me already based on my last email about angel investors that charge startups to hear their pitch. Out of those 1,000+ emails there were only two that were negative, and they both cited “free market” forces correcting the pay-for-play issue. I agree, and this email newsletter is the free market!

A number of smoking guns came in from the email list. Now, I can’t be 100% certain that these folks are telling the truth (maybe these are fake, who knows), but in the spirit of openness, I’m going to let you
decided for yourself. I’ve spoken to a number of the folks below on the phone and checked out a number of their twitter, linkedin, personal blogs, and websites to see if they are who they say they are. I’m convinced these a real testimonials and I’ve personally come around to the belief that these firms prey on the naive and the desperate.

Now, there might be some good people in or around these organizations with good intentions, but they are falling way short from the perspective of the entrepreneurs. These firms are NOT going to last much longer with their current payola incarnations because the word is out. Angel investors and startups should not participate in these forums until they drop their fees–period.

Entrepreneurs know better now, and I think the new kids on the block are going to hear from elder startup statesmen that they shouldn’t participate in these bogus forums. Old entrepreneurs please protect
the new ones. – Businessinsider

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