Our letter to the SEC
Wefunder - Invest in Startups You Love
by Nicholas Tommarello
3y ago
Exactly one year ago, on May 16th 2016, Regulation Crowdfunding was rolled out. Now that we have a year of experience and data, we wish to share our experience with the SEC. https://medium.com/media/3c31d4159de5f6e26b0138ee31a3a292/href Our letter to the SEC was originally published in Wefunder Blog on Medium, where people are continuing the conversation by highlighting and responding to this story ..read more
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Wefunder is a Public Benefit Corporation
Wefunder - Invest in Startups You Love
by Nicholas Tommarello
3y ago
Our mission is to defend the American Dream As of today, Wefunder is a Public Benefit Corporation. We are now known as Wefunder PBC, not Wefunder Inc. I’m proud that over 200 Wefunder shareholders signed our Charter. This is akin to our new Constitution. What is a Public Benefit Corporation? A PBC is a new form of company that 31 states have enacted since 2010. The most well-known —Kickstarter — became one in 2015. A PBC is still a for-profit company. However, public benefit corporations are required — by force of law — to pursue goals that relate to their mission. Shareholders ..read more
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Let’s make capitalism more human
Wefunder - Invest in Startups You Love
by Nicholas Tommarello
3y ago
Four months ago, I wrote Do or Die in 54 Days as open letter to Team Wefunder. We didn’t die, so let’s continue the tradition. Dear Mike, Greg, Dylan, Linlin, Omar, Jiwon, & Theresa: We’ve dominated the opening act and stand alone at the top. Those we expected to be tough competitors turned out to be paper tigers. Yet, this is bad for America. Competition is good. It forces everyone to be better, faster. If we’re going to fix capitalism, we need to compete with ourselves: with who we are now, versus what we can become. We’ll have to reach down deep to meet our unrealized potentia ..read more
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Congress asked us to write a Letter of Support for the Fix Crowdfunding Act
Wefunder - Invest in Startups You Love
by Nicholas Tommarello
3y ago
The Financial Services Committee in the House of Representatives is marking up the Fix Crowdfunding Act. If all goes well, it will be voted on in Committee on June 15th. This bill is vital to protect investors who participate in equity crowdfunding. We are honored that we’ve been asked to write a letter in support, and hope the legislators find our on-the-ground experience useful. Over the past six months, we’ve spent many hours speaking with the offices of Representatives Patrick McHenry and Maxine Waters. We are impressed with how deeply they have dived into the issue, and are hopeful they w ..read more
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Portraits of Bronzeville, Chicago
Wefunder - Invest in Startups You Love
by Theresa Le Phung
3y ago
The people of Southside Chicago work quietly, fervently. They are the boots-on-the-ground: building a better community one meal, one child, one story at a time. “The City within a City” & “The Black Metropolis” Bronzeville is a neighborhood in Southside Chicago, a once thriving epicenter of black music, politics, and commerce. Bronzeville was where Nat King Cole went to high school, where Louis Armstrong played on Friday nights, and where Ida B. Wells struck a foothold in activist journalism. It is a town rich in history, but not in resources. Here are the people changing that ..read more
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Founders: The Strengths and Dangers of Investment Crowdfunding
Wefunder - Invest in Startups You Love
by Nicholas Tommarello
3y ago
On May 16th, the law changes: startups can raise up to $1 million per year from their friends and supporters, who can invest as little as $100 each. (Before, companies could sell products on Kickstarter, but not stock). This is part of the “Regulation Crowdfunding” portion of the JOBS Act, a bill passed by Congress in 2012, which is just now being fully implemented four years later (the government moves slow!). This new federal law gives founders another lever they can use to get funded. Capital no longer has to be constrained by the traditional gatekeepers in suits — the risk-advers ..read more
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What happens when you take Amtrak cross-country with your startup.
Wefunder - Invest in Startups You Love
by Theresa Le Phung
3y ago
You go 0 to 100 real quick. https://medium.com/media/982c74ad8ab397df4346bd1656ed03b9/hrefCrazy, stressful, and totally worth it. Wefunder took Amtrak across the country to find and fund small businesses with great stories. We visited 12 cities in 2 weeks—and made it back without killing each other. Somehow. To avoid team member homicide, here’s what you need to know before you hop on board. 1. You’ll get chummy fast. If you weren’t cozying up to your co-workers before you boarded the train, be assured it’s only a matter of hours until you do. Our first leg was a ..read more
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Q&A with the Founders of Chronos
Wefunder - Invest in Startups You Love
by Theresa Le Phung
3y ago
https://medium.com/media/5986e6fdd4dae144c7ff0ddc3aef9c4a/hrefWhat does Chronos do? What are you building? Mark: Chronos is a thin discrete disc that attaches to the back of your watch. It’s the thinnest wearable device in the world. It fits over 80% of watches sold today. It attaches with microsuction and it gives you the very best of today’s wearable tech. It connects your phone via low energy Bluetooth. It tracks your steps and activity throughout the day, connects your phone and gives you unique personalized notifications for just the things you care about. Why watches? Mark: I love w ..read more
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Eating Together Again with Chef Melissa King
Wefunder - Invest in Startups You Love
by Theresa Le Phung
3y ago
https://medium.com/media/f74bb5445de768f42f6e0ad240660b3d/hrefMoving Forward by Stepping Back. The consumer-centric food system is a new thing. Before the industrial revolution and the surplus of people flooding into cities, food was farm-centric and consumers were at the mercy of the seasonality and distance. The past century saw the shift to mass-produced food. There are people still alive who remember food as it was then, before the factory farms and picture-perfect supermarkets. During their childhoods, cheap and processed foods were the future. Today, the public is doing a doubl ..read more
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Using Tech to Transform the Future of Food
Wefunder - Invest in Startups You Love
by Theresa Le Phung
3y ago
Chapter Five: Eat Tech https://medium.com/media/81890b85e6820f4638d3239a6aecd95b/hrefThe Invisible Hand of Big Agriculture Big Ag controls how our food is grown and gets into our bodies. When you think of family farms versus corporate farms, it’s tempting to envision Little House on the Prairie on one side and Upton Sinclair’s The Jungle on the other. But today, Big Ag has taken on a cleverer and much more insidious mask. In the United States, 96.7% of farms are actually family operated farms. But here’s the catch: half of the produce from those farms depend on fertilizers, seeds and ..read more
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