September 15, 2013
Most jobs are created by small businesses and start-ups. These proposed SEC rules seems to be bent on changing that.
These proposed rule changes introduce intolerable risks for the angel investors upon whom start-up companies depend.
It's astonishing that the government would want to add an entirely new category of risk for early-stage investors, effectively putting co-investors into a circular firing squad, with guns trained on the company in the middle, and lots of stray bullets if someone gets an itchy finger.
These proposed rule changes might as well be called the "Jobs and Innovation Prevention Act."
Let's just leave that all that jobs and innovation stuff to the publicly-traded corporate behemoths and their mutual fund manager proxy pseudo-owners that sweat their own bullets over quarterly earnings rather than jobs or innovation.