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Is angel investing out of hand?  

Former Google engineer and Del.icio.us founder Joshua Schachter has made angel investments in at least 45 companies, but he's backed off from investing for now.

And:

...high valuations of Internet start-ups have caused at least one other angel - Lowercase Capital Founder Chris Sacca - to step back. He said he's making no new investments until the second quarter of next year.

Joshua Schachter and Chris Sacca are both of the new breed of superangels described by Paul Graham, who are involved in large seed investments in many startups, and so if more of this happens, we may at the very least see another article by Paul on the topic.

That said, living in London, far away from the overheated investment climate of Silicon Valley, it's hard to tell exactly whether that means anything at all for startups around the world.

More from the library:
Think small, be specific
How to raise a Series A round
Toxic investment