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So A Blogger Walks Into A Bar…

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Re: So A Blogger Walks Into A Bar…

#91

Post by seldo »

origoterra wrote: post #87
jnoller wrote: post #9

I do hope he's wrong, or that this a mistake of some sort. The rise of Angel investors has seen a lot of ideas and entrepreneurs get needed money when they might not have under the traditional VC model. Something like this, if true, will cause the government to step in, and probably regulate and change things for the worse for a great many people. It won't just hurt these few super angels. It will take everyone with…

Arrington is smart, a lawyer himself, and already know he is headed straight to the witness stand. Thanks for blowing this whistle Mike. That's the TC we like.

I don't know if witnessing a table full of people go silent when he turns up proves anything, and the rest is all info that would put his source on the stand, not him.

Re: So A Blogger Walks Into A Bar…

#92

Post by brianlash »

johns wrote: post #16
MediaSquirrel wrote: post #7

@icey: can u change the title to something that explains the nature of the post? Something like "Super-Angels Colluding to Keep Valuations Down." I know u just kept the original headline, but it's confusing for people who haven't read the post. Just a request. 'Tis a VERY important thing for all to read in the community.

Just a request. Can you spell your words out if you're over the age of 13?

Tell him or her to spell words out. No need for the snark.

Re: So A Blogger Walks Into A Bar…

#93

Post by mattmaroon »

j_baker wrote: post #55
jnoller wrote: post #9

I do hope he's wrong, or that this a mistake of some sort. The rise of Angel investors has seen a lot of ideas and entrepreneurs get needed money when they might not have under the traditional VC model. Something like this, if true, will cause the government to step in, and probably regulate and change things for the worse for a great many people. It won't just hurt these few super angels. It will take everyone with…

To be fair, this is Michael Arrington. He's not above sensationalism to get a few extra clicks.

This goes well beyond sensationalism. I'm inclined to believe him for three reasons:

1. Mike's not known for boldly lying. He might publish rumors that Facebook is building a phone too liberally, but I've not heard of him saying "I saw x happen" and it wasn't true. Assuming the account of what he himself saw was accurate it's hard to imagine collusion wouldn't be the purpose.

2. This sounds like something that would happen. VCs do this crap all the time, why not angels?

3. Publishing this might be bad for him, and if it were untrue, it would definitely be really bad for him.

Re: So A Blogger Walks Into A Bar…

#94

Post by nchlswu »

I don't understand how people like this (if the points I'm referring to are truthful, of course) can not maintain some composure.

Guilty silence and a "oh no no" from somebody considered as a friend is a bit ridiculous. I'm searching for the right words right now, but it's sort of ridiculous that Angels like this who have undoubtedly relied on their networking end up handling a situation like this.

A bit amateurish, no?

Re: So A Blogger Walks Into A Bar…

#95

Post by j_baker »

tptacek wrote: post #45
jnoller wrote: post #36

Earlier quoted context omitted.

They are a group of people supposedly conspiring to generate the worst possible terms for the people they are providing money to, while trying to force out or marginalize competition. IANAL though - even if not illegal, it's still pretty stinky, and a big part of me hopes it's not illegal. If it's not illegal, I hope they're outed and shamed if this is true. If it is illegal, it give the government reason to step in…

Or, this is a group of people collaborating to generate the best possible outcome for their own business. Every joint venture can be framed in anticompetitive terms. But in this case, what possible undue market influence can they have? The market will find other people to take these deals.

"Every joint venture can be framed in anticompetitive terms."

Semantically yes. But is every joint deal bad for the market?

"The market will find other people to take these deals."

Don't be naive. Anticompetitive practices are specifically meant to prevent the market from functioning normally.

Re: So A Blogger Walks Into A Bar…

#96

Post by mattmaroon »

nostromo wrote: post #48
jexe wrote: post #38

Well, at least one investor seems to have accidentally included himself in the mess (from TC's comments) http://twitter.com/speechu/status/25083299594

I just put "forming a cartel" on my list of things not to tweet.

Unless you're in Mexico. Then Tweeting is probably a good idea.

Re: So A Blogger Walks Into A Bar…

#97

Post by dschobel »

j_baker wrote: post #84
dschobel wrote: post #61

Earlier quoted context omitted.

Why would VC firms meeting and agreeing to change terms for their clients in lock-step not be collusion whereas if the brick and mortar banks did, it would be? (and was: http://redtape.msnbc.com/2008/04/did-banks-collu.html )

It turns out that banks are exempt from antitrust laws: http://en.wikipedia.org/wiki/United_States_antitrust_law#Exe...

You're referring to the Edge Act [1][2] and that only applies to US banks' foreign operations (their subsidiaries, to be specific).

It is still very much illegal for them to collude against US customers.

[1] http://en.wikipedia.org/wiki/Edge_Act

[2] http://www.answers.com/topic/edge-act-corporation

Re: So A Blogger Walks Into A Bar…

#98

Post by sachinag »

mixmax wrote: post #60

So a blogger gets a tip from a source, knows the people involved, acts on it and smells a rat. He sticks around and talks to a few people he knows, makes a few calls and gets a breaking story. Sounds to me like bloggers are the new journalists and that traditional media is in big big trouble.

Felix Salmon does this, and he's a blogger working for Reuters. Dan Primack does this, and he's a blogger working for Fortune.

It's not about old/new media - it's about hustle.

Re: So A Blogger Walks Into A Bar…

#99

Post by swombat »

mattmaroon wrote: post #93
j_baker wrote: post #55

Earlier quoted context omitted.

To be fair, this is Michael Arrington. He's not above sensationalism to get a few extra clicks.

This goes well beyond sensationalism. I'm inclined to believe him for three reasons: 1. Mike's not known for boldly lying. He might publish rumors that Facebook is building a phone too liberally, but I've not heard of him saying "I saw x happen" and it wasn't true. Assuming the account of what he himself saw was accurate it's hard to imagine collusion wouldn't be the purpose. 2. This sounds like something that would…

Add to that that there is no convincing reasons why this group of angels would manufacture this story to lead him on. Unlike with some other TC stories which turned out to be manufactured to discredit TC, in this one, the sources themselves would risk a lot by leaking this - true or false.

Re: So A Blogger Walks Into A Bar…

#100

Post by onan_barbarian »

cool-RR wrote: post #30
jnoller wrote: post #9

I do hope he's wrong, or that this a mistake of some sort. The rise of Angel investors has seen a lot of ideas and entrepreneurs get needed money when they might not have under the traditional VC model. Something like this, if true, will cause the government to step in, and probably regulate and change things for the worse for a great many people. It won't just hurt these few super angels. It will take everyone with…

I wouldn't take anything he says seriously. [Edit: If it wasn't clear, I meant Arrington, not Jesse]

Strange how any post that could be construed as being negative about Arrington gets down-modded by about 5 points, regular as clockwork.

That being said, I think he's on the money with this one.

This can only be good for YC overall. The suspicion that YC alternatives are all colluding against your startup is likely to make YC seem more attractive still, to the class of startup that would be wavering between YC and a rival.

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