Palo Alto, Calif. – Following Michael Arrington of
TechCrunch’s report that prominent Silicon Valley angel investors were holding
meetings at which collusion was allegedly discussed, veteran angel investor Ron
Conway has severed ties with many of those in attendance. In an email to some of
the meeting’s attendees, Conway called the descriptions of what transpired at the
gatherings "despicable and embarrassing for the tech community," adding,
"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 entrepeneurs [sic] build their companies."
wish the Angel community could have the same integrity and values of the
entrepenuer [sic] community, but unfortunately I now believe that is hopeless
and your actions prove that," Conway writes, eventually stating his
intention to "disengage from any involvement" with attendees of the
Those attendees reportedly included Dave McClure, Bryce Roberts of
O’Reilly AlphaTech Ventures and David Lee, of Conway’s own SV Angel fund.
Conway noted: "I regret David Lee was involved in the gatherings. I am
sure he does too."
Photo by Joi Ito
Ron Conway Drops A Nuclear Bomb On The Super Angels [Email]
(DMW previous coverage)