February 21, 2014
Hello,
My name is Brad. I fall under the definition of a middle-class, unaccredited investor because of my current net worth and annual salary. I've been following this development in the JOBS Act for some time now and with great anticipation. I would like to see the SEC provide people like me with the same opportunities that currently only exist for "accredited investors."
I have been studying start-ups for two years now, and I'm currently struggling to start my own business which, I hope, will allow entrepreneurs to more easily communicate product specifications to foreign manufacturers. I'm not sure why, but for some reason my annual income is the SEC's way of determining my ability to recognize a good business model from a bad one. I am allowed to put unlimited amounts of my income into the stock market, towards lottery tickets, or on the tables of Las Vegas. But I currently don't have the right to invest in a start-up (not for equity, at least). Quite frankly, that seems bass ackwards.
I firmly believe that entrepreneurial growth is a key ingredient to bolstering our economy as a whole. I want to support entrepreneurs. I want to be an entrepreneur. And I want to be able to share in the success of entrepreneurial ventures when my income helps bring them to profitability. Please keep Regulation A+ from state regulations and Blue Sky laws that will ultimately defeat its purpose and potential. Enabling average Americans to support and benefit from entrepreneurial growth would change the landscape of our economy forever (in a good way). I know there are cons to this regulation, but I hope you agree that the benefits far outweigh them.
Thank you for your consideration.
Regards,
Brad Staples