July 11, 2014
I agree with the comment submitted by Kiran Lingam at SeedInvest on July 8, 2014 available at http://www.sec.gov/comments/s7-06-13/s70613-546.pdf that raising the accredited investor thresholds would be disastrous for startups, job creation and the U.S. economy. I believe the SEC should refrain from increasing these thresholds and should also adopt knowledge/experience based standards for an individual to become an accredited investor.
I am a first-time CEO, and working to build a business that will require capital. I live in the silicon valley, and despite that it’s already hard enough to find accredited investors as currently defined. If this pool is reduced by half, it will be exponentially more difficult for me to raise money, create jobs, and grow this business.
DON’T MAKE IT HARDER, MAKE IT EASIER!
Thanks for listening.
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Alex Littlewood
Motoroso