Do Ron Conway's Investors Know He Doesn't Care About Making Money?

Photo: TechCrunch

Ron Conway was quick to jump on his high horse and trash fellow angel investors in the wake of TechCrunch’s report about angels colluding to hurt entrepreneurs.In an email he told fellow angels:

I want to clarify once and for all my total disagreement with your values and motives for being investors.

I have stated consistently for year that I invest because I love helping entrepenuers and watching them learn and succeed.

…In my opinion your motives are driven by self serving factors around ego satisfaction and “making a buck”.

My motives and values are very different.

But Dan Primack at Fortune correctly points out, Ron Conway is in the business of “making a buck,” just like the rest of them:

Up until recently, most of Silicon Valley’s super-angels were investing out of their own checking accounts. But that has begun to change, with folks like Mike Maples, Chris Sacca and Dave McClure tapping third-party capital to supplement personal capital. This even includes Conway

Some of these folks clearly are interested in institutionalization (i.e., creating firms), while others simply wanted to reduce syndication headaches. What they all have in common, however, is a fiduciary responsibility to someone other than themselves. It must take priority.

…Or, in the words of Ron Conway, making a buck.

Continue at Fortune >

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