News flash: all it takes to be an investor is money and time spent hanging around in the right crowds. You don't have to be particularly smart, savvy or even a good person.
It shouldn't shock people that any random scumbag with a few hundred grand in the bank can style themselves as an "angel" and get fawned over by the best and brightest entrepreneurs in the country. This type of dynamic will attract unpleasant types of people who pull these kinds of stunts. As an industry we should be more realistic about fund raising, and perhaps slightly more cynical about the types of people we're trying to pitch ideas to.
It shouldn't shock people that any random scumbag with a few hundred grand in the bank can style themselves as an "angel" and get fawned over by the best and brightest entrepreneurs in the country. This type of dynamic will attract unpleasant types of people who pull these kinds of stunts. As an industry we should be more realistic about fund raising, and perhaps slightly more cynical about the types of people we're trying to pitch ideas to.