The Treasury Department recently released the first of what is sure to be many reports aimed at deregulating financial markets. Supporters of the free market and entrepreneurship should welcome these efforts, especially the reforms to the rules governing crowdfunding.
One of the greatest innovations of the Internet has been connecting entrepreneurs to potential investors. Websites like Kickstarter and Indiegogo revolutionized the fundraising process for budding entrepreneurs, designers, and artists. Previously, the only realistic route for these entrepreneurs was to solicit limited funds from friends, family, and their local community. Either you hit it big or your projects quickly fizzled out. Today, many successful music and film projects have been funded through crowdfunding vehicles.