Traditional capital flows from nonprofits to investment banking are being disintermediated. People, causes and businesses that need capital have access through the internet, social media and crowdfunding platforms to capital that they simply could not access before. As this trend grows, crowds will demonstrate a different sort of wisdom, sometimes funding causes that foundations wouldn’t or entrepreneurs that VCs wouldn’t.
The JOBS bill was one of the few bi-partisan things that Congress had done recently that will actually help the economy and provide more opportunities for true wealth and job creation.
The intent behind the crowdfunding language in the JOBS Bill was indeed laudable, and bipartisan.
Unfortunately, the devil is in the details. The SEC is dragging its feet on regulations. When they are done, they make actually make things WORSE for crowdfunding than before the bill passed.
I’m shocked, shocked, I tell you.