Subject: File No. S7-06-13
From: Bernard Yoo
Affiliation: Co-founder, Bombfell, Inc.

August 19, 2013

The proposed regulations would be disastrous for the startup ecosystem. We're small businesses that run around with our hair on fire trying to stay alive, we don't have dedicated in-house legal teams and we certainly don't have the focus nor time to spare reporting to the SEC like publicly traded companies.

Startup innovation is one of the last competitive advantages of the US. We've already got a good thing going, don't over-think it with more regulations.