Wefunder (YC W13): Invest in Startups • Hacker News Board

Re: Wefunder (YC W13): Invest in Startups

#81

Post by JimWillTri » Wed, Mar 20, 2013, 1:55 PM UTC

sochanger wrote: post #14

jwb119 wrote: post #9

How are you guys avoiding having to register as a broker dealer before the JOBS act goes into place? (I'm assuming you're applying for Funding Portal status afterwards)

Great question. There are a few reasons we are able to do this now, mainly that we are not being compensated in any way. That being said we do have a relationship with a broker dealer to give us flexibility moving forward.

This is what you said on site: How we make money

We earn a 5-8% cut from the total amount raised, depending on the stage of funding.

Re: Wefunder (YC W13): Invest in Startups

#82

Post by robomartin » Wed, Mar 20, 2013, 4:39 PM UTC

aashaykumar92 wrote: post #78

robomartin wrote: post #77

Earlier quoted context omitted.

> but given my age and experience Given your age and experience you have NOHTING to loose. Experiment. Fail. Learn. Succeed. One of my all-time favorite sayings is by Mark Twain: "A man holding a cat by the tail learns something he can learn no other way". If you think you understand startups enough to risk $1,000, by all means, do it! You will learn something regardless of the outcome. And, frankly, at your age, if…

Yes sir, I plan on doing so! I was only responding to the seemingly-odd assumption that only the "next ring" of investors is what Wefunder is going for--at least that's what I got from pg's response to why he/YC funded Wefunder. To me, there is no way to keep it to only this "next ring" and it doesn't seem that Wefunder is trying to do this. They are trying to appeal to those who are even several "rings" away.

Good! Be absolutely fearless. Intelligent, but fearless.

Regarding funding for your venture/s. Forget it. Don't do it. At least not at first. Save money and bootstrap one or a couple of ideas yourself. You will earn you honorary MBA that way. You have to be smart about business before venturing out into a larger domain (unless you have good mentors who can guide you).

Companies like Facebook --where the founders had absolutely zero business experience and zero idea of where the thing was going or how it was going to make money-- are exceptions to the rule. Most businesses require a reasonable grip of business management and the identification of a good business model from the very start. And even with that failure is far more likely than success. So, have fun with it and don't risk too much on each experiment. Once you find something that gains traction take a huge leap and go for it.

Re: Wefunder (YC W13): Invest in Startups

#83

Post by netcan » Thu, Mar 21, 2013, 1:17 PM UTC

How exactly do accredited investor laws work? If a private company allows a non accredited investor invests to put in $10k in exchange for stock, who broke the law?

If this new law comes in, are foreign investors allowed to take part?