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Thanks, Ed. About time someone unmasked the incredibly dishonest and ultimately harmful JOBS Act. I’ve been waiting years for this take.

Great article as usual! Just wanted to point out what looks like a typo in the paragraph about Harvey: >It would only take four months for it to raise another $300 billion and nearly double its valuation to $5 billion Should be 300 million based on the context of the rest of the paragraph right?

so? wipe all that dead equity out.

And while growing round sizes has juiced valuations, it's also made exits far more elusive, to the point that 28% of all exit values of the last two years came from Elon Musk's companies acquiring other companies, mostly with stock. www.wheresyoured.at/premium-vent...

Well SOMETHING needs to kill venture capital… Whatever “good” thing it was meant to be is long dead. See: The true purpose of a policy is what it does, not what it says (or was claimed about it by people pushing it into a legislative vote).

Thanks!