I disagree. The reason you get a lower valuation from Angel Groups is because they act as a group so they have more power to put in more cash and to determine y

I disagree. The reason you get a lower valuation from Angel Groups is because they act as a group so they have more power to put in more cash and to determine your valuation. Angel List is not an angel group by any means. They do not act as a group and using them is like talking to many individuals. It's just a more efficient way of doing so. [In the past I have presented and received offers from Angel Groups and from Angel List.] "it just produces valuations that more closely reflect the consensus of the times. The true value of the startup's equity has little to do with it." This is a strange statement. How do you determine the "true value" of a startup's equity without the consensus of the times ie. the market? :-)