I have been following the idea of “crowd-funding” for several years and am a great fan. A couple of weeks ago I was having lunch with a colleague who is starting a new crowd-funding site. As we discussed it, I realized that crowd-funding represents an antidote to one of the many ways in which today the “ninety nine percent” are disadvantaged compared to the “one percent”. I have not seen this particular line of thought articulated before, so here it is.
In case that introduction sounds too rabid, let me qualify this post by saying I am not really a fan of Occupy Wall St (OWS), I have no problem with the 1% earning lots of money (so long as the taxpayer is not acting as bailer-out of last resort), and I am myself an accredited investor, long-time startup entrepreneur, and occasional angel investor. I dont believe in equality of outcomes, but I believe very strongly in equality of opportunity. And that is where I see an intersection of crowd-funding, and the concerns of movements like OWS. [Read more…]