Just catching up on some posts over at Up and Running by Tim Berry and came across this headline: Angels Flee Tech Start-Ups. The post referred to a NY Times article. The bad news is obvious: less angel funding.
The good news is that the more a startup can do before eventually finding money, the less the founders will have to give away. Founders will have to be super creative in order to get through this period, but that leads to a second dose of good news: those who make it through will have real strength from their experiences.
One potential solution is to go back to school and use the resources and time universities afford in order to launch your firm. 3% money in ‘student’ loans from the Fed? Any takers?
My startup, Family Fantasy Sports, which has just achieved some crucial milestones, has briefly spoken with some ‘angels’ and many are super cautious, though some of the older, wealthier ones are pretty even keeled. We are trying to hold off going there.