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		<title>When carpetbaggers rule</title>
		<dateCreated>Thu, 10 May 2012 12:34:45 GMT</dateCreated>
		<dateModified>Thu, 10 May 2012 12:40:44 GMT</dateModified>
		<ownerName>Dave Winer</ownerName>
		<ownerEmail>dave.winer@gmail.com</ownerEmail>
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		<outline created="Thu, 10 May 2012 12:34:45 GMT" ctSaves="5" flPreview="false" id="2012.05.10.1807" server="xmlrpc://cms.scripting2.com:5337/RPC2" storySerialNum="1807" text="When carpetbaggers rule" type="scripting2Post" url="http://scripting.com/stories/2012/05/10/whenCarpetbaggersRule.html" username="davewiner" versionClient="0.44" versionServer="0.44" whenLastSave="Thu, 10 May 2012 12:40:44 GMT">
			<outline created="Thu, 10 May 2012 12:27:46 GMT" pgfnum="13977" text="I loved this &lt;a href=&quot;http://www.wired.com/epicenter/2012/05/angel-no-more-why-one-of-silicon-valleys-savviest-investors-has-shut-his-wallet/&quot;&gt;piece&lt;/a&gt; about angel investor Kevin Hartz."></outline>
			<outline created="Thu, 10 May 2012 12:28:05 GMT" pgfnum="13978" text="He says &quot;When I see a massive number of new investors and carpetbaggers coming in, it's time to get out.&quot;"></outline>
			<outline text="We'e singing the same song, except we're playing different parts. "></outline>
			<outline created="Thu, 10 May 2012 12:28:49 GMT" pgfnum="13979" text="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. "></outline>
			<outline created="Thu, 10 May 2012 12:40:36 GMT" pgfnum="13983" text="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."></outline>
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