I strongly disagree with Wil Schroter’s recent post on SoCalTech (SoCalTech.com ) that people are“eager to write checks.”  The evidence of this broader reality is overwhelming and is directly contrary to Wil’s personal experience: •    Venture capitalists invested 48% less capital in Southern California during the third quarter with $458 million put into 66 deals (Dow Jones Q309) •    Dramatic move away from first time/early investments – 60% decline year over year in first time financing dollars (PWC MoneyTree) •    13 year low in technology investing (Dow Jones09) •    Massive drop

Interesting post on Jason Calcanis’ blog this week (also picked up by Ben Kuo and SocalTECH ) with further thoughts on Angel groups charging startup companies to pitch. All of his posts on the topic are not only good reading, but accurately describe what goes on within some Angel groups (e.g., Although I’ve written on this topic and share Jason’s ire,  I’m not These pay-for-play scams remind me of the “modeling agencies” that charge people for representation, acting lessons and to have their headshots done.). Other than what Jason and I have already

In last week’s post I talked about how to evaluate an angel group with my Letterman Top 10 list. With angel investing now in vogue in the US there is a similar con game for startup companies raising money, with many organizations masquerading as angel groups or individual investors. Although it could as easily be described as the angel equivalent of the email scam from my good friend the Nigerian Prince. Today’s headline covers #2 of that list (Do they actually have capital and a track record of investing their own personal funds) and is from a story I’ve told at several entrepreneurial events.