It’s a start but I agree for some business ideas a 1 mil cap is crap.
The US Senate has overcome its fears about “crowdmuppeting” and passed an amended version of the JOBS Act, a bill that will make it easier for start-ups to raise money and avoid regulations.
Earlier this week, the bill had stalled amidst fears that it would lead to scams as a result of letting small firms raise money online and from social media (critics called this “crowdmuppeting” — a riff on a Goldman Sachs term for ignorant investors).
Crowd-funding is already popular through sites like Kickstarter that let entrepreneurs describe a project and encourage donations.
Securities regulations, however, forbid entrepreneurs from giving their crowdfund contributors a stake in the company.
That will change under the new Jumpstart Our Business Start-ups law which will allow companies…
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