The good guys have retaliated with some pro internet and pro start up legislation of their own. The crowd Fund act, was part of the Jobs act that was sent to Obama by Congress on March 27th. It was signed.
The crowd fund act waves the SEC requirement for raising money from ONLY accredited investors.
I have personally raised Angel fund raising, and was shocked to learn that you could not raise money from people who have a net worth that is less than a million or make less than $200,000 per year.
This is (i guess now was) a huge problem for funding and capitalizing start ups.
Now anyone can invest and get equity in their favorite interent start up or their local organic grocery store.
If you want to find out about the people behind the CrowdFund act and how they worked their way up from an idea, to a petition, to a seat at the table with congress, to actually pushing this Act through into legistlation you should check out
( and yes i know they pushed it through in Canada and are going to use it as a model, and then they will be back )
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