Subject: File No. S7-06-13
From: Alexander Fries Fries
Affiliation: Ecosystem Ventures LLC

August 16, 2013

I like to thank you everyone involved in making the jobs act possible and most importantly, allowing start ups to fundraise from Accredited investors. I understand that we need to protect the small investor but if I may recommend to make the process as simple as possible and without much of a bureaucracy, it would help keep the US innovation engine running at full speed, not to mention the economy. At this point it seems that you will require many paperwork to be filed before a start up can fundraising directly from investors. And if not properly find, it will block the start ups from fundraising. It may be more appropriate to become stricter as incidents happen, otherwise potentially great deals my die due to errors in paperwork. I hope you will consider the opinion of many concerned investors and start ups. Sincerely.