Michael, I'm generalizing a bit and alluding to all the regulations that others are discussing: Reg A+, State based securities regulations, etc. For example, about a month ago, the State of Texas passed securities regulations allowing equity crowdfunding in
Texas. I don't know all the regulations so don't quote me but essentially those changes mean that any Texas based investor (I believe) can contribute up to $5000 to a Texas based business. That announcement was hailed throughout Texas in the same way that Walter started this discussion: That equity crowdfunding is now possible!
That headline was false and misleading.
All I was added to the discussion is that equity based crowdfunding has long been possible; it's not new. It's not new in Texas. It's not new for startups. It has changed in Texas for startups in that more investors can now participate at <$5000. Not unlike Rob's input of something similar in Washington. But, MicroVentures has funded over 110 startups,
all with crowdsourced, equity based investment.
What's changing is how that can happen. We've been doing it for years because we are a registered Broker-Dealer and can structure asset classes and facilitate transactions for Accredited Investors. The reason I said the regulations are changing to serve Walter's scenario ("$200 investments on up") is that is indeed what is happening. In States, investors can often participate with smaller dollar amounts and by way of different circumstances. With Reg A+, as I understand it, startups are able to raise more capital this way, from a greater number of investors. Thus... it's possible that there are ways Walter could get investors on board for as little as $200 (they couldn't through us, MicroVentures doesn't serve that model; but that doesn't mean the changing regulations aren't making it possible: such as if he is in Texas).
by the by, FounderDating doesn't support the @ tag in the way we'd expect. You linked to a twitter profile. I'm @seobrien
on twitter. I don't think you can tag someone here.