August 19, 2013
Not good for startups. It's unrealistic to expect a company which is thinking about 5000000 aspects of a business to update SEC filings every time it's trying to raise a seed round of financing. In the early stages of a company, there's no way a founder can get this done. They're already trying to write the business plans and financials, all while selling and building a product/service. More filing constraints will only hinder innovation, reduce the amount of people doing startups, and reduce the amount of startups which end up getting traction to become self-sustaining businesses.