For the most part, the only thing angel investors have is cash. They have nothing you should pay them for. Fred Wilson's support for Jason Calcanis' position

For the most part, the only thing angel investors have is cash. They have nothing you should pay them for. Fred Wilson's support for Jason Calcanis' position is particularly telling, given that Union Square provides a great deal more than cash (I've seen them in action). If you have to pay to get a potential investor to listen to your plan, you either need a new plan or a new investor. Paying angel investors for access is only one step removed from wiring money to Nigeria in a 419 scam.