

Matt Taibbi on the JOBS Act - jellicle
http://www.rollingstone.com/politics/blogs/taibblog/why-obamas-jobs-act-couldnt-suck-worse-20120409?x

======
maxcan
I find this perspective so incredibly frustrating. Its as if people feel that
stock investments need to have zero risk. Anyone who dumps their entire life
savings into a pre-seed startup and gets wiped out, quite frankly, deserved
it.

Matt Taibbi would serve the public much better if he wrote about the real
world risks involved in these investments, the need for diversification, and
other ways for individuals to make risk appropriate investments..

------
jellicle
This was submitted earlier and got no discussion, so I resubmitted it with a
more neutral title.

Taibbi has some excellent points. Overall, in the long run, this is going to
hurt the startup industry. There will be numerous publicized incidents of
massive fraud. Many people will lose their money and they will tar the entire
industry with that perception. Casual investors are going to get robbed blind
by scam artists, and anyone intending to run a real, honest business should be
against these legal changes.

~~~
retroafroman
I agree. I think we're too busy cheering about how smart and progressive we
are, making it so that games and iPhone stands can get crowdfunded, to realize
that this is going to come back to bite us. In this case, someone outside the
industry, like Taibbi, is a good sanity check, though he does have his own
reasons for opposing it.

