August 19, 2013
To whom it may concern,
I have read the the new proposal to change fundraising requirements for startups. As the co-founder of an early stage startup that is in the process of seeking funds, I can tell you that this new ruling would hurt any company and their founders in the future.
Why?
At the moment, my co-founders and I are wearing 20 different hats and trying to do a million things at once. And because we are so new, things are always changing, including the amount we announce to raise. To add these fundraising requirements would cause a lot of confusion and risk having companies accidentally break the new requirements and will therefore slow their progress.
If new companies can't get off the ground, this WILL effect our economy. Anything to cause a delay in funding means a delay in hiring workers because there will be no funds. My team NEEDS more people, but we are waiting on funding.
Please do not move forward with this plan.
Sincerely,
Paiman