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@VentureDeal point taken.
2 years, 11 months ago on Welcome to the Wild West of Suckers, Lawyers, and Snake Oil Salesmen
@Francisco Dao Well, they were your Twiistup events, and that's your circle, and your own funding pool. People who are going to lose by the saturation of their markets with the money that used to go to Wall Street assuming this gains any ground with the public (I'm not saying it will). Bloggers constantly pander to these guys and their incubators. It shouldn't be about control like that. It should be about the product and the consumer.
@VentureDeal The link got messed up. I was referring to this: http://www.kickstarter.com/projects/66710809/double-fine-adventure
@VentureDeal http://www.kickstarter.com/projects/66710809/double-fine-adventureThis is the ultimate in crowd funding and it was already legal prior to the JOBS act. $3,336,371 changed hands and zero shares and options were passed. If you can do that why would you want the other model? Unless you were pimping vaporware or something you can't deliver or people don't want anyway.
@VentureDeal Rule 505 still requires that you give even non-accredited investors an accurate prospectus though. That's why giving people rewards on Kickstarter like DoubleFine or IndieGoGo was still more attractive to us. Unless you're already making a nice profit, then your prospectus probably isn't going to impress the average person.
@VentureDeal You should probably mention that the SEC already allows non-accredited investments in rule 505 of section D. http://www.sec.gov/answers/rule505.htm It applies to companies raising less than 5 million in a fiscal year.The only difference between before the JOBS act and now is that before you couldn't publicly advertise share sales to the public, and now you can. That's why secondmarket.com had such a huge personal vetting process. Now all of that is gone presumably and you can use rule 505 to sell directly online with much less red tape.
Francisco, What's up. I presented at the wildcard event at Twiistup 007. I think you're wrong. Your events are wholly funded by people that the JOBS act's crowdfunding aspect disadvantages. In other words the people who will lose from the JOBS act are the same that fund your Twiistup events. I know because there were at least 10 of them that came and talked to me after I left the auditorium at Anderson Hall.
I feel it's fair to let people know that along with the article. We're launching a crowd funding campaign on IndieGoGo tomorrow because frankly, why would you give people shares if you don't have to, it's better to give them rewards from the project, plus it's better to go open source so more people can participate, and private funding usually means you have to keep the source closed and go the route of patents.
" Put a search box up and when a user clicks the button the rest is done by MSFT."Goodbye Yahoo! search BOSS. http://developer.yahoo.com/search/boss/ To be honest, it wasn't very good any how.
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Wow, this comment system is a godsend.
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