August 30, 2012
The move is a step toward progress, but I believe the financial threshold for verification is too high. There are many business that would be interested in investment levels less than $15,000, and those with net worths of less than $1 million can still be effective and responsible investors. An improvement would be to require a given net worth or income to invest at a certain level, not to invest at all.
Many potential investors are looking to move into a given field as a stepping stone to either deeper investment or starting their own business in a similar field. Modern methods of communication would allow potential investors and potential startups to find each other, but current "General Solicitation" laws prevent what should be a simple process.