If spam is such a concern - and given that points two and three are basically rehashes of the idea of paygates being spam filters - wouldn't asking for an abstr

If spam is such a concern - and given that points two and three are basically rehashes of the idea of paygates being spam filters - wouldn't asking for an abstract of the business plan upon submission be even more effective than having that pay gate in the first place? The reasoning for the article's specious. Money doesn't determine the worth of an idea - and by setting up a money barrier, angel investors are locking out potentially game-changing proposals made by those that would've probably hammered out a barebones version of the product or service with the money they're otherwise tossing at angel investors. Or those that /have/ invested their own money, nearly all of it even, but don't have any left to make expensive gambles like pitching to angel investors. As for angel investors charging "not doing this for the money?" Disingenuous. Just because you have a few million doesn't mean you won't turn your nose up at the idea of an easy thirty, forty thousand once in a while.