government initiatives and the crowd goes wild

government initiatives and the crowd goes wild

AND THE CROWD GOES WILD: The Senate has passed the Crowdfund Act, which will lower barriers for the non-accredited average Joe to invest in private companies, so that anyone ("even your mom," according to TechCrunch) can get in on crowdfunding action through approved portals. Companies can receive up to $1 million in funding per year from individuals who, based on their income, can give between $2k and $10k. Critics worry that these changes open up room for fraud, while the folks on AngelList cheer on. BetaBeat has more on the provisions of the bill, now heading to the House of Representatives.

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