Think about it. When you were a child and were asked "what do you want to be when you grow up?" - would you have answered with what you are doingright now? I know I didn't. Some days, it's impossible to describe what I do, even to myself! Hell! My parents still don't understand More Info »
Yes, there's been a few historic videos of Jobs being shared around lately. The simple reason for that is, they're good. It is fascinating to listen to Job's speak in the past, knowing where he took Apple. And, the rocky path he personally undertook to get it there - he was fired from the company More Info »
Soon, common folk like you and me will be able to invest in the startup (or small business) next door.
The Securities and Exchange Commission (SEC) on Wednesday voted unanimously to propose regulations for equity crowdfunding, which will enable unaccredited U.S. investors to invest in startups and small businesses.
The long-overdue rules, which the JOBS Act called for by no later than Jan. 2013, will likely undergo a lengthy comment period before they go into effect. The SEC is seeking input on 295 questions, according to SEC commissioner Dan Gallagher. The full set of rules is a bureaucratic 585 pages.
Crowdfunding industry experts are still digesting the various regulations and their ramifications, but their initial reaction is largely positive.
The rules “seem like they’re sticking very closely to the intent of the [JOBS Act],” said Sherwood Neiss, a principal at consulting firm Crowdfund Capital Advisors, referring to the legislation that legalized equity crowdfunding when it was signed into law April 2012. “I feel optimistic that the rules won’t be burdensome for small businesses.”
While critics of the JOBS Act have largely focused on the potential for fraud, very few startups defraud their investors, but most do end up failing for legitimate reasons. Thankfully, the SEC rules protect new investors from losing more than $ 5,000 a year as a result of their own inexperience.
“It’s important to note that the SEC is taking a calculated approach to protect these new investors, in part by dramatically limiting how much they can invest by capping annual investment at around $ 2,000 to $ 5,000 per year,” said Chance Barnett, CEO of Crowdfunder, a crowdfunding platform that currently offers equity crowdfunding to accredited investors.
IndiegogoCEO Slava Rubin agrees that the proposed rules adequately protect investors — though like the aforementioned experts, Rubin and his company stand to benefit from the new regulations.
“I think the SEC did a good job balancing investor protection and allowing innovation to keep moving forward,” Rubin told VentureBeat. “I think there’s a lot of nuance and interpretation that still has to happen, though, which is why the comment and feedback period will be very important.”
Asked if Indiegogo will eventually offer crowdfunding for equity, Rubin offered a tacit yes.
“We’re definitely interested, definitely moving forward,” he said, noting that he’s wanted to allow Indiegogo users to profit from crowdfunding campaigns since its inception in 2008, but that regulation has held him back until now.
One revelation from the proposed rules is that startups will be able to solicit investment from accreditedinvestors (through Title II of the JOBS Act) while simultaneously raising a round from the unaccredited crowd (through Title III).
Companies have been unable to sell shares to unaccredited investors without first registering with the SEC. That will remain true until these proposed rules are approved and enacted.
It still seems a little impossible to believe that Steve Jobsdied just over two years ago. Regardless of what you think of him as a person, his business or, his products, Jobs was the ultimate entrepreneur. This video is of Jobs in 1990, sharing his thoughts on why what he was doing was so More Info »
Apple’s rabid revolution of smart gadgetry that brought rise to such game-changing products as iMacs, MacBooks, iPads and Apple TVs has long enthralled actorJosh Gad — mainly because of the mysterious tale behind the tech titan.
Gad, who plays Steve Wozniak in Open Road’s biopic Jobs, admitted to Mashable that he didn’t know much about the pre-2000s Appleuniverse.
“I was fascinated by the story when I read the script,” he said over the phone. “I was not aware of the Appleuniverse [before] the introduction of the iPod, and so for me the journey that [co-founders] Steve Jobs and SteveWozniak took together — and all of these guys who helped form Apple — was fascinating.” Read more...
AOL CEO Tim Armstrong held another conference call for Patch employees today, and after what was likely the worst week to be working at the hyper-local news venture following the previous all-hands call, he confirmed that around 40 percent of the 1,000 total Patch workers will be let go starting today, according to Jim Romenesko. Around 80 percent of the Patch sites were in good or workable condition, he said, with another 20 percent set to “close or consolidate,” Poynter’s Andrew Beaujon reports.
The 400 employees lay-off number is in keeping with the “between 200 and 550″ we’d heard in a previous report from sources within AOL, but the specific breakdown of Patch sites considered successful and in trouble is new. Armstrong reportedly said that 60 percent of Patch sites had “real traction,” while another 20 percent had “significant traction” (likely code for promising but need work), and a final 20 percent must either close or consolidate. Those are probably the 400 Patch sites we heard would be affected by the changes previously, though at last count there were probably around 900 Patch sites total, so perhaps those sites are spread across the latter two categories.
Emails sent out today to affected Patchers will likely be used to provide information about midday meetings where the lay-offs will likely take place, so we could still hear more about the personnel changes. We’ve reached out to AOL and sources close to the company and will update this story with more info as it becomes available.
Update: Beaujon reports (and we’ve confirmed separately) that an 11 AM ET call occurred at which a number of employees were let go, with a final termination date of August 23, one week from today.
We've been watching you. Yes, you've been tweeting, Facebooking, hovering around water coolers talking about this movie. Well, now you can watch an excerpt. Firstly, you've got to love how movie execs have finally realised that we don't like watching trailers. Trailers give the plot away. We don't want that! But show us a scene More Info »
We can’t help but be amused by this article in New Zealand’s premiere business newspaper, the National Business Review. In it, veteran technology reporterChris Keall lampoons an email received by subscribers of the AustralianFinancial Review, in which the paper’s editor in chief Michael Stutchbury laments IBMAustralia’s decision to send jobs offshore, including to New Zealand. Delimiter Renai LeMay