We recently highlighted Scott Shane’s new paper on Angel Investing, this morning the WSJ featured part of their discussion on the topic in the paper under “Best of Independent Street.” The article online by Kelly Spors is tight and there are some insightful comments from their readers, plus a big, obvious piece of ‘British spam’ (see picture).
The main critique is likely around the term Angel Investor and what that means to the academic — Shane — versus the practitioner — the entrepreneur.
How do you use/define the term Angel Investor? And do you think one’s conception of the term varies by location (as a commenter on the WSJ site points out); people in and around Silicon Valley, DC, Boston, etc. have different expectations of an Angel versus someone in Omaha, Saint Petersburg, or Midland, TX?