Dennis Cabarroguis stashed this in Fixitfixitfixit!
Very cool that Tech Cocktail picked up our humble podcast with Rep. Patrick McHenry, author of the crowdfunding bill. Easy listening on a timely subject.
Thank you for sharing this.
Here's the money quote:
Let’s say you were…a college student who’s on Facebook in the first year, and they wanted to fund their servers. You could own a little piece of a product you really like, and Facebook could have raised up to $2 million under my bill, and they could have done it [as] $1 from 2 million people across the country. That is a way to open this up and let the crowds determine the products we’re going to support and the companies we’re going to support.
This legislation, if passed, decouples angel investment from seed-stage startups.
And the implications of jump-starting innovation and entrepreneurship by lowering the barriers to capital, and the ability to do so without geographical limitations is powerful. Thanks for sharing your thoughts on this, Adam.