3 ms·

I disagree with Taibbi on this one. Making it easier for startups to raise money does not equate to fraud on Wall Street. Yes, there are some who will take adva

by raheemm 15y ago

I disagree with Taibbi on this one. Making it easier for startups to raise money does not equate to fraud on Wall Street. Yes, there are some who will take advantage. But it will also means that the engines of the economy, small businesses and startups will get a massive lift off. In the end, you have to balance regulation with ease of doing business, raising capital, etc.

jellicle 15y ago
>Making it easier for startups to raise money does not equate to fraud on Wall Street. Eliminating independent accounting requirements is as close to equaling fraud as makes no difference.
adestefan 15y ago
According to [0] "...new research by the Treasury Department finds that small businesses — defined as those with income between $10,000 and $10 million, or about 99 percent of all businesses — account for just 17 percent of business income, and only 23 percent of them pay any wages at all." It's pretty hard to argue that makes them the "engines of the economy." [0] http://www.nytimes.com/2011/10/24/opinion/small-businesses-arent-key-to-the-economic-recovery.html?_r=2&ref=opinion http://www.nytimes.com/2011/10/24/opinion/small-businesses-a...
- wpietri 15y ago
  Not quite. When people say things like "the engines of the economy, small businesses and startups", they are referring to job growth and innovation. Large businesses have most of the revenue, but small, new businesses are where tomorrow's champions come from: Each wave of firm startups creates a substantial number of jobs. In the first years following entry, many startups fail [...] but the surviving young businesses grow very fast. In this respect, the startups are a critical component of the experimentation process that contributes to restructuring and growth in the U.S. on an ongoing basis. -- http://www.nber.org/papers/w16300.pdf http://www.nber.org/papers/w16300.pdf
whyenot 15y ago
It's not just startups and small businesses. The JOBS act covers companies with annual income up to $1 billion. The crowd funding stuff in the bill is great, but it's like a few drops of honey on top of a turd.

by raheemm 15y ago

jellicle 15y ago

>Making it easier for startups to raise money does not equate to fraud on Wall Street. Eliminating independent accounting requirements is as close to equaling fraud as makes no difference.

adestefan 15y ago

According to [0] "...new research by the Treasury Department finds that small businesses — defined as those with income between $10,000 and $10 million, or about 99 percent of all businesses — account for just 17 percent of business income, and only 23 percent of them pay any wages at all." It's pretty hard to argue that makes them the "engines of the economy." [0] http://www.nytimes.com/2011/10/24/opinion/small-businesses-arent-key-to-the-economic-recovery.html?_r=2&ref=opinion http://www.nytimes.com/2011/10/24/opinion/small-businesses-a...

wpietri 15y ago
Not quite. When people say things like "the engines of the economy, small businesses and startups", they are referring to job growth and innovation. Large businesses have most of the revenue, but small, new businesses are where tomorrow's champions come from: Each wave of firm startups creates a substantial number of jobs. In the first years following entry, many startups fail [...] but the surviving young businesses grow very fast. In this respect, the startups are a critical component of the experimentation process that contributes to restructuring and growth in the U.S. on an ongoing basis. -- http://www.nber.org/papers/w16300.pdf http://www.nber.org/papers/w16300.pdf

whyenot 15y ago

It's not just startups and small businesses. The JOBS act covers companies with annual income up to $1 billion. The crowd funding stuff in the bill is great, but it's like a few drops of honey on top of a turd.