Wefunder

The law changed. Invest $100+ in startups you love.

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#5 Product of the DayMay 18, 2016

Reviews

Discussion

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Garry Tan
Garry TanHunter@garrytan · Managing Partner, Initialized Capital
WeFunder's founder literally was one of the people who wrote the bill that hit the floor of Congress. Capital drives a lot of invention and innovation in the world, and what this ultimately means is that crowdfunding platforms like WeFunder can drive that much more good through the power of smart investors, software, and good dollars now from normal everyday people.
Andrew Torba
Andrew Torba@torbahax · CEO, Gab.ai #SpeakFreely
I'm going to echo Garry's comment here: forget "wrote the book on the topic," the Wefunder team helped shape and write legislative history. Let that sink in. We've had the honor of working with the team closely over the last year and we are proud to have Wefunder investors on our cap table. These guys and gals go above and beyond with everything they do: from helping with the fundraising process to continually supporting me as an entrepreneur post-investment. I'm incredibly excited that the playing field has been leveled for ordinary people to invest in businesses and products they love and I am confident that Wefunder will be at the forefront of this.
Nicholas Tommarello
Nicholas TommarelloMaker@nicktommarello · Founder & CEO, Wefunder
I started the journey of making Wefunder 4 years ago. I wanted to invest in my friends, and I thought it was silly the government - as a practical matter - wouldn't allow me to do so. I believe in a world where everyone can invest in what they care about, and a world where capitalism is shared broadly, not siphoned off by the rich who have access to the best companies. So we got Congress to change the law, and then waited four years for the SEC to write all the rules for it.
Corey O
Corey O@coreyo · Senior Product Manager at Madison Reed
@nicktommarello A sad point of view often reflected in policies is that a person isn't smart enough to make his own financial decisions.
Antony Evans
Antony Evans@orbellamoss · CEO, TAXA Biotechnologies
@coreyo @nicktommarello It's obviously untrue that intelligence is correlated with wealth, everyone should have the right to spend their money as they wish not just the wealthy
Max Zamkow
Max Zamkow@mzamkow · Engineer turned Investor
@coreyo @nicktommarello It's a sad point of view that's based on decades, even centuries of data. In general, individuals are TERRIBLE financial planners (that's why we have social security in the US, and even so many still have trouble), and are even worse at properly evaluating risk. Wefunder is an amazing concept with potential to do great things in terms of democratizing investing, but the dangers it presents must be acknowledged and addressed responsibly
Nicholas Tommarello
Nicholas TommarelloMaker@nicktommarello · Founder & CEO, Wefunder
@mzamkow @coreyo I agree. There are 1000 pages of regulations by the SEC and FINRA to address the potential dangers. Wefunder is regulated by both entities, including nearly every detail of how the web site operates.
Max Zamkow
Max Zamkow@mzamkow · Engineer turned Investor
@nicktommarello @coreyo But what individual is ever gonna read 1000 pages!? It's ridiculous. I think what you're doing during signup to address it is great. Multiple "checkboxes" with very clear guidance that an individual should only invest if he or she "can afford a 100% loss of all investments". Very clear, well done.
Greg Belote
Greg BeloteMaker@gbelote · Founder & CTO, Wefunder
Hey hunters - I just added a $50 credit to anyone who signs up through Product Hunt! This applies to any fees you pay when making an investment. The code is deploying now and I'm going to try and make sure everyone who signed up earlier gets the deal, too. Send me an email (greg@wefunder.com) if you want to make sure that I don't miss you!
Mike Norman
Mike NormanMaker@mikejnorman · President
It's ridiculous that Americans weren't allowed to invest in private companies that are solving problems they care about. On Monday that finally changed. We launched on Monday with a company building a Bionic Pancreas, a rocket scientists helping rebuild one of the most important African American neighborhoods in the country, and over a dozen other awesome companies. Some are solving super important problems, and others are building awesome tech that I want in my life. It's been a long 4.5 years since I helped write the law that made all this possible, but we're here, and I'm pumped!
Cindy Wu
Cindy Wu@cindywu · Co-founder at Experiment
I've been waiting for this day for a long time. We used Wefunder to raise money for our company. I'm most excited for this because this means our most loyal and engaged users who are rarely millionaires can now be directly invested in the success of our company and community. 🙌🏽 The Wefunder team is writing history.