August 13, 2013
This rule is going to ruin my plans of starting up my company and I am seriously afraid of the fact that there is a death penalty for the startup for not complying with the new rules.
Informing 15 days prior is something that'll be impossible in most real world scenarios. Most of the cases, we get to meet new investors and angels in conferences and hackathons and pitcing events while just attending and not with plans to pitch there and raise money.
The real case is that the investment for people who are starting up newly, comes right from a local restaurant during an informal communication with the investor or through introduction by friends and foes.
And, it's okey to have a boilerplate for communicating financial numbers and funding amounts but not for each and every communication that we will have to make.