[rmason]

Sounds like a reasonable argument, but you're wrong. The only thing they want is your money. I put these guys in the same boat as the angel groups that charge you an upfront fee to make an application.

Here's Brad Feld's take:

http://www.askthevc.com/wp/archives/2011/08/are-people-who-c...

[abbasmehdi]

How about "only pay us in equity or cash if you raise funding based on our introduction."? So you pay for results.

FYI: name an industry and I'll show you someone selling snake oil in it.