July 10, 2010
These are comments in regards to a petition for rulemaking change. My startup is based on the idea of crowdwisdom assessed reputation of products in the marketplace. We have been straggling to develop this new technology for over 2 years without any external funding as the the rules and regulations suffocate an innovation and creativity. VC model does not provide enough value and the cost of obtaining it is astronomical. Meanwhile too many Angel groups are over invested and start to emulate VC model. We need capital to survive and to create prosperity.