A bittersweet moment in entrepreneurial history recently occurred, with the Senate passage of the JOBS Act. After passing in the House, this 6-pack of small business modernization reforms cleared the Senate. While most things were left intact from the House bill, the crowdfunding component was tweaked to allow for "more investor protections". In my opinion, crowdfunding was the most economically important part of the bill, so it's no surprise that the special interests have dipped their fingers in the mix. Unfortunately, America will pay a price for this in terms of brain-drain. Sound familiar?
In over four years of operation, leading crowdfunding site Indiegogo reports virtually no fraud. U.K. crowdfunding leader Crowdcube (which does allow equity finance) reports no fraud. As is the case for U.S. based peer-to-peer lending site Prosper or AngelList, the popular site for angel investors searching for deal flow from entrepreneurs. Never let the facts get in the way of a good FUD story. If you commit fraud online, your life is over.
To read the full, original article click on this link: Kevin Lawton: Senate Startup Bill Tweaks Could Cause U.S. Brain Drain
