In the next few months, I predict a U.S. presidential candidate will fully endorse crowdfunding. And that endorsement will earn the candidate millions of votes, and a tremendous amount of the network effect that crowdfunding participants are so versed at. Why? Just for starters, Kickstarter expects to provide more funding than the National Endowment of the Arts! Even as VCs are massively abandoning seed funding, crowdfunding and peer to peer lending have become a global multi-billion dollar power house.
In November of 2011, The U.S. House of Representatives passed a crowdfunding bill, with overwhelming support. By most accounts, the bill was friendly to crowdfunding and cut out much of the red tape that usually accompanies financial bills, thanks in large part to its author, Congressman Patrick McHenry. It creates "a crowdfunding exemption from SEC regulations for firms raising up to $2 million, with individual investments limited to $10,000 or 10 percent of an investor's annual income." And as a bonus, exempted crowdfunding investors from the 500 investor limit before public company reporting kicks in.
To read the full, original article click on this link: Kevin Lawton: Crowdfunding Will Make The Next U.S. President
