JOURNAL: HR 2930 and Open Source Funding
Open source funding is coming. About time.
In a big departure from previous behavior, a very cool new bill just passed the US House of Representatives. It's called H.R. 2930: The Entrepreneur Access to Capital Act.
Basically, the bill eliminates most of the legal barriers (restriction on the number of investors, the type of investors, etc.) to raising small amounts (
Of course, this new capability (if it passes) is going to be abused (bucket shops across the country are gearing up in anticipation). However, most of that will be sorted out in time.
Phi Beta Iota: Disintermediation is proceeding apace. The big challenge right now is that it is still turgidly centered on the one billion rich with one trillion a year in income — until OpenBTS and free cell phone service / free access to the Internet reach the five billion poor with their four trillion a year in income, the current economic malaise will persist.
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