Angels Flee From Tech Start-Ups - NYTimes Article - John Huston (Columbus angel investor) quoted

Drew Smith, an angel investor in Portland, Ore., has invested $25,000 in each of four start-ups, but now he is cutting back.

In this article the NYTimes talks about angel investor and how they are reducing their investments in tech startups. John Huston a prominent local angel investor is quoted as saying

“A lot of companies view us to be the on-ramp to the venture capital superhighway, and a number of angels are less convinced that they should count on the superhighway this year,” said John O. Huston, chairman of the Angel Capital Association"


Here's the rest of the story
Technology entrepreneurs are having a devil of a time finding angels. Angel investors are the optimistic financiers who give entrepreneurs their crucial first infusion of cash to bring their ideas to life. Now, in the midst of a punishing economic downturn that is sparing few companies, these patrons are cutting back on their bets and threatening the very foundation of the technology economy......