August 19, 2013
he SEC's proposed rules will defeat their goals in letting startups raise money publicly. Startups will be forbidden from raising money at all if they accidentally break the rules—effectively putting the startup out of business. Or startups will decide that these rules are so difficult to follow that they will raise money privately lowering their chances of raising money and moving their conversations to forums that can't be tracked by the SEC. Please reconsider the effectiveness of the 1 year penalty box.