So basically, neither the founders nor the angels are sufficiently bold or well-connected to find a deal without going through some kind of rigid organizational

So basically, neither the founders nor the angels are sufficiently bold or well-connected to find a deal without going through some kind of rigid organizational structure. Sounds like a sure-fire winner! But seriously, these kinds of organizations seem like a nice place to learn, network and meet angels... for the members. The startup founders of the world would be better off creating their own organization, that is if they ever do find the time...