August 20, 2013
As someone who's started a number of companies, I can say that wrapping your head around the basic incorporation requirements as a first and even a second time entrepreneur is difficult enough, timely and expensive.
Having to file additional material to the SEC in order to raise Angel capital not only adds to the dilemma for entrepreneurs but more importantly raises barriers to entry for these same people, and will stifle economic growth and innovation.
I'm sure you can plainly see that innovation and especially from the tech sector has been a driving force of innovation for this country and putting up additional complex requirements in order to innovate, is quite frankly plain stupid.
I hope the SEC revokes its stance on startups needing to communicate with the SEC in the wake or raising capital, and sees that this will only adversely affect new enterprise in this county.
All the best,
- Jacek