The latest round of developments in the so-called “AngelGate,” including alleged leaked emails and Twitter fails appears to indicate that the situation is more substantial than I thought. As a result, I’m forced to do something unusual–write a blog post without making any jokes.

I’ve co-invested with Ron Conway; I’ve co-invested with Dave McClure. I’ve always felt that both of them have entrepreneurs’ best interests at heart, and work hard on their behalf.

If this “AngelGate” represents a rift between them, this is bad news for the entire ecosystem. The last thing any of us–angel, VC, or entrepreneur–need is a conflict that will get in the way of what we’re all trying to do: Create great products and build great companies.

I’ll admit to enjoying what I thought was a fake publicity stunt; if it has turned suddenly real, I feel guilty of contributing to the sideshow.

This is Silicon Valley, not Monday Night Raw. Let’s leave the chair-throwing and double-crossing to Vince McMahon, and get back to work.

P.S. And if this is a publicity stunt, this time you really took it too far guys.

It’s fun to generate faux controversies and rack up pageviews and comments, but not when it impacts people’s reputations and relationships.

I thought we ran Valleywag out of town for a reason.