If it didn't work people wouldn't be doing it I presume. It probably works every now and then but it's good enough when the cost of doing it is low.
When does it work? When you reach someone who is actively looking for it.
For example, in the talk given by YC Partner Aaron Harris[0], suggests that cold e-mailing professional investors work when done right.
[0]: https://www.youtube.com/watch?v=Jzz4AEIddzY
If it didn't work people wouldn't be doing it I presume. It probably works every now and then but it's good enough when the cost of doing it is low.
When does it work? When you reach someone who is actively looking for it.
For example, in the talk given by YC Partner Aaron Harris[0], suggests that cold e-mailing professional investors work when done right.
[0]: https://www.youtube.com/watch?v=Jzz4AEIddzY