Getting In on the Garage Floor

Exciting:

On November 3rd, the U.S. House of Representatives passed H.R. 2930 (the “Entrepreneur Access to Capital Act”), a crowdfunding bill that will allow startups to offer and sell securities via crowdfunding sites like Kickstarter and social networking sites like Facebook and Twitter. As I discussed in my post, “FAQ: What the new U.S. crowdfunding bill means for entrepreneurs,” this is a game-changer for startups and lifts certain securities law prohibitions that have been on the books since the 1930’s. Since I wrote that post, I have received numerous emails and phone calls regarding the House bill, which I will address below.

Read the whole thing, including the differences between the House and Senate versions of the bill. They’re significant, but nothing that can’t be hammered out in conference.

Pass this and repeal ObamaCare, and maybe we can get entrepreneurs back off the sidelines.