Basically, they can't compete at the A level now against Angelist. If you're a fundable startup, would you take $5M from any VC (even someone as stand-up as AH)

Basically, they can't compete at the A level now against Angelist. If you're a fundable startup, would you take $5M from any VC (even someone as stand-up as AH) with control strings attached or would you rather raise on Angelist and stay in control? So the real funding opportunity for AH is at the B round, where as Scott says, they will go in hard. Makes total sense.