Subject: File No. S7-06-13
From: Shelley Gould
Affiliation: Entrepreneur / Angel Investor

May 21, 2014

I was thrilled to see Congress help democratize the process for angel funding in allowing startups to publicize. It has allowed me, a current accredited investor under your current rules to put a few thousand dollars into some key investments. You raise these limits on me and suddenly you exclude my ability to participate because I don't make over $200k a year? If I have enough of an asset base to invest in the stock market, why shouldn't I also be able to invest in the private equity market? Why - because the risk of losing is higher? Do you know how much money people have lost in the stock market as well? Don't kid yourselves. Its why I created a startup back in 2008.. to help better protect investors in the stock market (see

You acknowledge that startups create jobs. So why "un-democratize the process?" and turn it back several decades to only the wealthy getting wealthier?? You create an unfair playing ground.

We now have the web in place which allows for more democratization in the creation of a startup (vs. the who-you-know-game) as well as the funding. PLEASE don't disrupt that momentum.

You don't try to restrict people who make say under $50,000 from investing in the stock market do you? They can lose it all too.

I realize we don't want to encourage foolish investing by you can't arbitrarily stick a number on it and think that doesn't have a negative affect - ruling out very astute people, say who earn only $150k a year and only have an asset base of $500k, but manage to save $30k outside their 401k or IRA a year . WHY do you get to determine they are not allowed to invest? As your current rules state that. And now you are going to rule out those that do have $1M in asset base (outside home) but perhaps don't earn the $200k+?

I'd also encourage someone to evaluate the need to change the capital loss rules. $3k was established how long ago? People who are incentivzed to invest, should also be allowed to declare larger losses and not have to potentially die without ever being able to declare their entire or even partial loss.

I'm happy to discuss further with any SEC official or Congress member that wants too.

Best regards,