Comment by strommen

A few people are wondering about regulations and oversight. Here's a brief summary for this law:

* Max $1 million total fund-raising

* Max $2,000 or 5% net-worth from each unaccredited (i.e. non-rich) investor

* Must file audited financials with the SEC to start, and every year afterwards

* Must use a registered portal, which must be a different entity with different owners

Getting your financials publicly audited every year is a major pain, and I think it's going to make this non-viable for most companies.