This article is absolutely spot on. Realizing that you are the "entertainment" is absolutely true. This goes for many angel "investment" groups that really just social clubs in my opinion as well.

I would say one benefit though is that especially very early on, public pitches can be a good way to generate some buzz and meet early customers. But go into it with that intention, as opposed to seeing it as a way to raise $ - which almost never happens.

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