

Ask HN: Proof of concept for my web site - david927

I recently had an idea and put this together: http://www.me-vc.com<p>Since financing is a well-explored area and micro-financing is such a hot topic, I'm sure I'm missing something.<p>What do you think about it?  You can leave comments on the site or here.  I will update the site with some of your comments as this process goes forward.  I'm available at: david@me-vc.com<p>Thanks for your help!
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owkaye
You haven't explained your proposed legal structure so it's hard to comment.
How do you plan to structure it? Will the money each person contributes be a
donation, or a loan, or an equity investment, or ???

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david927
The money each person contributes will be an equity investment.

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owkaye
You cannot advertise equity investments to the general public in the USA
without registering with the SEC. Do you plan to do this?

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david927
Thanks for your help. This was just an idea I wanted to run up the flag pole.
I don't plan to implement the site unless I can partner with someone who would
be able to handle the main part: the SEC and legal.

That said, I'm dying to see someone (anyone) implement something like this.
It's simply the future of funding web applications, in my opinion.

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ram1024
i like the idea of investor "bidding" but of course it seems like a hard task
keeping everything honest.

the whole concept seems burdened "legally" so to speak.

would be neat to see something like this fly, though

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david927
Thanks for your feedback. I agree -- this biggest hurdle is creating the legal
framework for it.

Generally, it seems to me like a natural progression. Web startups don't need
VC in many cases -- they need funding closer to 20,000 than 2,000,000, and
that would lower the due diligence somewhat, allowing more deals to be made.
Angels are location-centric, but web startups are happening everywhere.

This would change things so that if some web startup only needs 20,000, it's a
matter of 200 people around the world who believe in their idea enough to put
in $100. Plus the valuation would be more market-driven.

