This was a totally awesome idea... that got the kibosh.  Michael Migliozzi and Brian Flatow loved beer so much that they thought a little crowdfunding could help them raise $300 million to buy the ailing Pabst Brewing Company. It worked... sort of. Within two years, the pair had solicited $280 million dollars from five million people who pledged an average of $40 each for a “share” of the company. But before they could reach their goal, the SEC stepped in, saying that the pair “failed to properly register what amounted to a security issuance” and made them shut down the site. (Since no money actually changed hands, the SEC settled with undisclosed terms.) What is still awesome about this venture is that it opened the door to H.R. 2930, new legislation which allows startups to use crowdfunding for investments instead of just donations.