Less efficient. Sending the intro and letting recipients ignore it is much quicker, instead of going through those 3 steps (compose two emails, wait for responses, compose introduction).
That's true, but it ignores the loss of reputation you get if either recipient considers the intro spammy. And I wouldn't give my email address to anyone I thought would not have the courtesy to ask me before sharing it.
True, it's a question of trust. Also depends on how well you know the person in question, and how confident you are that the intro would be worthwhile.
Not really. Anyone with money and a willingness to invest doesn't have trouble making connections. Their problem is making the right connections. Having a small but high-quality network is far more valuable to them than having a large network of people who waste their time and resources.
Right, but how can one decide whether or not a connection is worth before actually meeting the person? Unless he has a crystal ball, he could be losing investment opportunities with this kind of attitude.
And it is not his money. He is being paid (well paid) to scout new deals. He is not wasting his time, he is just doing his job.