This is an amazingly disruptive and game-changing piece of legislation that will change the game for start-ups forever. Smaller start-ups have for too long been shut out of the capital market, banks aren't lending to small businesses even if the founder has good credit, and the SBA is of very little help to start-ups. For businesses looking to raise under $1M, there have been very few options. The availability of crowdfunding will indeed spur a tremendous amount of entrepreneurial activity, particularly in the tech realm. Small companies and entrepreneurs have come to understand, due to innovations like cloud computing, that a tech company can be founded with a lot less money than would have been needed during the '90s. The problem is that the venture capitalists that went so crazy in the dotcom boom, don't want to talk to you if you're in that less than a million dollar startup category, and crowdfunding now gives those smaller scale businesses a shot.

Dan Blacharski
Ugly Dog Media, Inc
http://www.crowdfundingjumpstart.com