Political Quotes

“I appreciate my friend from Colorado allowing me an opportunity to speak on this bill. Mr. Speaker, currently, the Securities and Exchange Commission prohibits the sale or delivery of securities that have not been registered with the agency. A large portion of startups--and, really, these are ideas--rely on small, nonprofit offerings also known as private placements, such as with friends and family. They do a round of offerings in order to raise initial, early-stage seed capital; however, the Securities Act of 1933 does not define what constitutes a public offering or, conversely, a nonpublic offering. As a result, startups may unintentionally violate the act when it seeks to offer securities to potential investors in a private placement. Let's put that in real English. Let's make this actually approachable in a way that I think true American entrepreneurs can understand. The reality is, these are people with an idea, a drive to move forward and to improve something. They go and offer to their family, or maybe ask of their family, to be a part of that dream, to help with some seed capital, to give them a little bit of their hard-earned money to help them achieve their dream. And, guess what? They get to take part in the success of that. There is some risk, but there is also reward. How this really translates is that there might be the doctor who has got a great idea for a new health drink or a new implement to use while he is in surgery.…”