The entrepreneurial challenge: staying 100% committed to your venture while the VCs faff around for months trying to get you to agree this year's brand of capped reverse multiple preferential double-half-decaff shares. :-(

For those who equate ranting with passion, doubtless this post 'rocks da house'. But given this was posted in response to an no-smoke-without-fire debate, the angriness comes over more as smoke-and-mirrors. Dave, until now I've always enjoyed reading your posts, but this one comes over like you're using your considerable verbal gymnastic skills to backflip your way out of the Issue Of Doom... "was meeting up at Bin 38 such a good idea?" Sure, ultimately "collusion" is probably too strong a word... but only by a whisker. Given that angels are more 'herdy' than 'nerdy', meetings like this one do have a genuine capacity to change mindsets in an anticompetitive way. Rightly or wrongly, the vast bulk of non-stellar angels look to thought leaders for informed angles on issues of valuation, term sheets, etc... Hence, the existence of #angelgate makes it look a lot like the funding dice are being loaded, however sub-par the execution may have been this time.