July 12, 2010
There follows my comments in regards to the petition for rulemaking change #4-605
It is important that everything in nature is brought to a balance. Environments change, technologies evolve, and the separation of classes/power continues to grow. We are all fighting over an increasingly smaller piece of the pie. It has always been the inventor, the passionate entrepreneur who has made this world a better place.. We are in a time where there are hundreds of thousands of entrepreneurs who have developed the solutions to the problems that our planet and its inhabitants very desperately need, however 98% these start-ups never get off the ground and are heavily restricted due to lack of investment resources.
If we actually live in a free-market economy, where the best ideas get funded and the best products and services thrive, then entrepreneurs and their start-ups should not be limited to the number of unaccredited investors to fund their start-up and have the ability to raise funding through "Crowdfunding." Raising funding through accessing a large group (primarily through the use of Social Media) and obtaining small amounts of investment funding from a number of individuals (aggregating into a substantive investment amount). Democracy would then determine our future.. not only the high-net worth people of the world who obviously do not want any competition!
Please review this outdated Security Act of 1933 and revise to allow crowd-sourcing for inventors and entrepreneurs!
Raymond B. Leavitt IV
EvoLux Transportation, LLC