Watching the battle of words, blog posts, term sheets and Tweets unfold over the last few weeks between VCs and Super Angels has been a little surreal. I’ve spent a career convincing editors that the internal workings of Venture Capital are more interesting than they sound, but even I can’t muster the passion to declare convertible debt AWESOME while equity TOTALLY SUCKS.
Clearly, this cultural explosion of tension is about more than just terms and who does what deal. After all, in theory, both these group need each other to thrive.
Rather than commission yet another guest post on the subject, we figured let’s just invite Super Angel rabble-rouser David McClure and early stage VC defender David Hornik into the studio for a no-holds-barred Smackdown. This is a five-part series tackling five wedge issues of the debate, and we’ll post one every day this week– consider it a primer on what you missed if you took August off, Mr. Old School VC.
Today’s topic: Why the hate? Don’t you two need each other?
As always when Dave McClure is involved, the language is NSFW. There, you’ve been warned.