August 20, 2013
I agree with the comments published by AngelList. I would go a step farther and add that the definition of an Accredited Investor be looked at as well. I would propose that the SEC add a blanket exemption that states an individual can invest up to 5% of his/her net worth plus annual w2 income in start-ups each year. For example a person with w2 income of $100k and net worth of $100k could invest up to $10,000 in start-ups.