Through his growing age and increasing grumpiness, Bill Morrow of Angels Den has become fed up with the masses of business plans he receives. His complaints focus around the point that a business plan is not indicative of a viable business. instead, it shows their capability to make a spreadsheet on Excel and that you are incredibly good at guestimmating what these numbers mean.
He also notes that few Angel investors actually spend any time actually reading business plans. So while many accelerators and grant programs ask for them, in many respects it is a pointless exercise as team and concept are more important.
In a casual but honest presentation, Morrow explains why business plans are a waste of both time and money for companies and investors.