The Internet is profoundly democratic, lowercase “d.” Anyone with computer access can publish a book, hawk his collection of vintage duck decoys, provide advice on holistic healing.
Crowdfunding, enabled by the Internet, promises as profound a shift: Anyone can become a venture capitalist and anyone can solicit those would-be capitalists to support his startup dreams.
Crowdfunding competes with traditional sources of startup funding, “the keepers of the treasure” as Thom Ruhe of the Kauffman Foundation calls them. The foundation exists to promote entrepreneurship, and Ruhe is vice president of entrepreneurship at the foundation. He says crowdfunding is an innovation that has the potential to change everything.
Read more at Arkansas Business
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