Sean Parker Thinks Angel Investors Not Named Ron Conway Should Stop Writing So Many Checks

Posted by Pierre de la Fortune on April 27, 2015 @ 12:01 a.m.

Written by Nitasha Tiku

Sean Parker had some choice words for early stage Silicon Alley investors on stage at the Techonomy conference today. And when we say choice, we mean Aaron Sorkin couldnt have written his lines better.

As AllThingsD reports, Mr. Parker seemed to have number of misgivings against the froth he sees among Valley investors right now, which he says damages a startups ability to have major impact.

A lot of those early stage investors, theyll fund literally anything said Mr. Parker said, who referred to the current model as the assembly line approach to investing. As in: an idea comes in, an investment comes out. Meanwhile, he noted, in order to tap into that deal flow, VCs and other later stage investors are plunking down cash much earlier.

Mr. Parker was sharing the stage with his host and friend David Kirkpatrick, author of The Facebook Effect and recent Vanity Fair profile of Mr. Parker, as well as Jim Breyer, a Facebook board member and investor in Mr. Parkers pre-launch startup Airtime. (Presumably, none of Mr. Parkers criticism applied to Mr. Breyers investment strategy.)

For his part, Mr. Breyer predicted that the bubble around early stage investing will end badly. He pointedly used the term spray-and-pray mentality, a phrase often associated with Ron Conways investment style, which Mr. Breyer said was prevalent in the Valley and, with less intensity, in New York and Beijing.

Mr. Conway, of course, has been an investor in every company Mr. Parker has ever started. On stage, Mr. Parker admitted Mr. Conway was a friend, then added, Its fine if theres a few guys doing this, but theres so much capital now in the early stage. Nice save, kid.

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WOW, Sean Parker

Good advice Sean ;-) Eric

This guy...

Yeah,I rather here from the other Shawn ;-) Fanning that is and what happened to airtime?

This guy...

Yeah,I rather here from the other Shawn ;-) Fanning that is and what happened to airtime?

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