Doesn't regulation of a 'crowdsourced' anything, kind of defeat the purpose? The entire idea is that many small failures lead too faster successful iterations.
That's not actually true (otherwise you couldn't do a friends and family round).
The reason a startup generally wants qualified investors is because the non-qualified ones can sue you if you they lose money, so it is in your best interest not to take their money.
I didn't see it in TFA, and googling "CROWDFUND ACT" didn't bring me the text of the bill.
Ostensibly the line must be drawn somewhere.
Is this only for "tech" companies? How is that defined?
Is there a particular company structure that is dictated? Delaware S-Corp, or any state Corp/LLC?
The last part of the bubble in late 20's was characterized with the lower middle class, which previously didn't have much investments, getting involved with the stock market. A lot of companies of all sizes advertised their stocks and "expected returns" in everything from radio to milk labels. Too many people bought into it at the worst possible time, on the top of the bubble.