Happy Sunday, All!
Bill Carleton and Joseph Wallin—security attorneys, thought leaders, and fierce advocates for workable crowdinvesting regulations—are calling on all supporters to help Save Regulation D. They can’t do it alone—they need our help. Here’s how.
Angellist announced this week that its testing its referral program, Angellist Syndicates. This isn’t a surprise, of course. Bill Carleton covered this structure in April after it was disclosed AL’s letter to the SEC. Additionally, Fundersclub announced a similar program last week, and many more are sure to follow.
It’s interesting to note that, to-date, Angellist’s CEO, Naval Ravinkant, has directed questions regarding the company’s business model to its jobs service, and not Angellist Invest. But we can easily read between the lines: Angellist is building global seed-stage funding infrastructure—and now positioning to receive carry on it all. If it works, the economic upside on its job service will pale in comparison to the upside on having carry, if even a little, on thousands, upon thousands, of startup deals. Brilliant.
AL isn’t alone in this endeavor, of course. As we previously discussed (Global Crowdfunding Reach: Exploring Gust) Gust is also building global seed-stage infrastructure. Currently, each is taking a fundamentally different approach: Gust is seeding its software into groups & organizations (angel groups, universities, etc.) while Angellist is seeding it to individuals.
Lots of implications here, and I’ll be penning more of my thoughts on equity crowdfunding this week. To this week’s news!
Two leading industry conferences are right around the corner. The CfPA’s Crowd Investing Innovation Forum is August 8th and 9th in Orlando. And CrowdfundingRoadmap’s Global Crowdfunding Convention and Bootcamp is October 14 – 16 in Las Vegas. Reach out if you’re attending, it’ll be great to connect in-person!