JOBS Act Title III: Crowdfunding Will Fund A Golden Swanicorn

Ben Miller |

A Letter from Fundrise CEO Ben Miller on Regulation Crowdfunding

This is a tremendously important day and I applaud the Securities & Exchange Commission for the adoption of Regulation Crowdfunding.

Many doubt the significance of the regulations adopted today. These critics are wrong.

Crowdfunding will fund a new era of super-innovation. The historic initiatives about to be put in place by the SEC and Congress address a fundamental flaw in capital markets: no one funds high risk - high reward endeavors and the sort of initiatives that results in innovations like the space program, penicillin, or the Internet -- what I call the “Golden Swanicorns”.

The nature of super-innovation is a barbelled risk curve, where the vast majority of investments fail and the few that succeed revolutionize humanity. Much of this high risk/reward innovation has been abandoned as deep research has been de-funded and government and big business shift to prefer incremental over revolutionary change.

The crowd is a fundamentally new mode of investment and because of it, all sorts of wacky, out-there, and thus truly revolutionary projects will receive funding they otherwise would not have. There will be plenty of failures, but the successes will be fantastic and world-altering.

I truly believe that crowdfunding will fund a cure for cancer.

Here’s to what the future will bring!

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


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