Jan 31, 2017
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Category:Computer security softwareWhy Isn’t ‘Unicorn’ Speech Heard on Capitol Hill?
The speech on Kickstarter and other crowdfunding is so familiar, but the deep political discussion so hard to find.
That’s why we’re so glad that few on the Hill even pay attention to what’s going on in crowdfunding. But that’s changing now that a new bill has been introduced.
The introduction was on June 16th. But it’s not getting very much attention. It’s the Innovation Act, or as it’s known in Silicon Valley, the “Unicorn” Act.
If you’ve heard of this, it’s not because you’ve been reading TechCrunch. It’s because it’s being covered on Mashable and on TechCrunch by Caroline O. Garside.
It’s about the way that startups and existing businesses can take outside funding and use the money to cover the costs of operating, without having to raise equity.
The old American way, after all, was that businesses had to find capital and then raise equity. In other words, go to a VC, take money from investors, and go out and hire workers.
This new bill would allow tech entrepreneurs to raise money without having to go through investors. It’s called crowd funding, and it’s supposed to democratize the entire process.
This particular bill, on which they introduced it, was not only written by a member of Congress but also has the support of some of the most powerful people in tech.
Bill Maris, the author of the bill, has been an entrepreneur, an investment banker and a member of the U.S. Senate since 1983.
When he met the tech CEO Howard A. Ronen, Maris became fascinated by Ronen’s model of financing, which has grown be359ba680
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