When carpetbaggers rule
By
Dave Winer on Thursday, May 10, 2012 at 8:34 AM.
I loved this piece about angel investor Kevin Hartz. 
He says "When I see a massive number of new investors and carpetbaggers coming in, it's time to get out."
We'e singing the same song, except we're playing different parts.
When I see products, customers, performance and value not being important, I said it's time to move off to the side and invest for the long-term. Unfortunately I've never been able to convince the actual money investors to bet along with me. They like to skip all that, expecting what seems to them as magic, but to the people who do the work -- risky investment.
They invest in the people who make them feel good. That's pretty dumb, imho -- long-term, while it might yield spectacular returns, short-term. It's probably not wise, either.
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