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Equity Crowdfunding Blog

New Jersey Set to Legalize Intrastate Equity Crowdfunding

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A bill that would allow non-accredited New Jersey residents to invest businesses within the state recently passed the Assembly 75-0. The bill now sits on Governor Chris Christie’s desk, ready for him to sign.

State senators Joe Kyrillos (R) and Ray Lesniak (D) originally introduced the bill in 2013, which allows New Jersey-based entrepreneurs to raise up to $1 million in private capital from non-accredited state residents. Those residents will be able to invest up to $5,000 in crowdfunded projects.

Smithsonian Launches Crowdfunding Campaign to Restore Neil Armstrong’s Spacesuit

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(Photo Credit: NASA)

On Monday, the 46th anniversary of the Apollo 11 moon landing, the Smithsonian launched its first crowdfunding campaign they’re calling “Reboot the Suit” to conserve, digitize, and display Neil Armstrong’s spacesuit that he wore on the moon. The museum has raised over 86 percent of its $500,000 goal since the launch of the campaign.

Entrepreneur Spotlight – Sam Tamiz & Lawrence Deneault

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This is the fifth post in an ongoing series we’re calling “Entrepreneur Spotlight” where we get the chance to speak with entrepreneurs and listen to their stories. Here we feature Sam Tamiz and Lawrence Deneault of NeoCrumb. You can check out their EquityNet profile here.

What ignited the spark in you to start a new business venture?

Sam: It’s not as simple as sitting down one day and saying to yourself, ‘Today, I’m going to start a new business venture.’ For me, the entrepreneurial spirit is continuous: everything I do, everywhere I go, I’m examining my surroundings to see how something can be improved, how someone’s life can be better served. It’s a mindset of always being on the lookout for new opportunities, of confronting challenges whenever they arise, and finding ways to overcome them. With this mindset, I’m not waiting for a spark to be ignited: I’m already lit. I’m just waiting for that opportune moment.

Barclays to Cut 30,000 Jobs by 2017

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Yesterday, the London Times reported Barclays plans to cut 30,000 jobs within two years as part of an effort to cut costs after the recent firing of CEO, Antony Jenkins. An unidentified source went on to claim that the bank has set no new targets to cut jobs beyond the 19,000 (7,000 at Barclay’s investment bank) announced in May of 2014. If implemented, however, the cuts could reduce the bank’s global workforce to below 100,000. Barclays cut 14,000 jobs last year and is expected to axe 5,000 more staffers by the end of 2016.

Venture Capitalists Invest Over $17 Billion in Q2 of 2015

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Venture Capital investing totaled $17.5 billion in the second quarter of 2015 according to the MoneyTree™ Report from PricewaterhouseCoopers LLP and the National Venture Capital Association based on data from Thomson Reuters. Software companies received $7.3 billion invested in 491 deals during the quarter, representing the largest amount invested in that sector by VCs since Q4 of 2000.

Alibaba Top Executive Detained By Chinese Authorities

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Patrick Liu Chunning, the head of Alibaba Digital Entertainment Group, has been arrested over bribery allegations during his tenure as vice president of digital entertainment at Tencent Holdings. Five other former employees of Tencent are being held by authorities as part of the investigation.

In Thursday’s statement release Tencent said, “An internal investigation brought to light bribery and corruption among some online video employees.” Alibaba commented on the matter via its Weibo stating, “We understand that Liu Chunning has been detained by the police due to bribery allegations during his time at Tencent Holdings; we are extremely shocked by the news. We support Tencent’s anti-corruption efforts and believe Tencent was being objective and fair regarding its report to the police.”

Department Of Labor Announces Raise For Overtime Threshold

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The DOL recently proposed raising the overtime threshold from $23,600 to $50,400 making this only the second time they’ve addressed the issue since 1975. According to the department, 62 percent of workers qualified for overtime back then, whereas today, only eight percent do. At the current overtime threshold, Americans would have to live below the poverty threshold ($24,008 for a family of four) before a jobholder could qualify for overtime.

Secret Court Permits NSA To Keep Collecting Our Data

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Earlier this week the FISA court ruled the NSA can continue the bulk collection of phone metadata until November 29. This comes after Congressional gridlock allowed for Section 215 of the Patriot Act, the legal cover for the collection program, to expire on June 1.

The secret court’s ruling overturns that of the US Court of Appeals for the Second Circuit, which ruled in favor of the ACLU’s suit claiming Section 215 could not be reasonably interpreted to allow the bulk collection of our phone data back in May. In his statement, FISA Judge Michael Mosman irreverently stated, “Second Circuit rulings are not binding on the FISC, and this Court respectfully disagrees with that Court’s analysis, especially in view of the intervening enactment of the USA Freedom Act.”

Entrepreneur Spotlight – Heather Camlin & Kristi Fox

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This is the forth post in an ongoing series we’re calling “Entrepreneur Spotlight” where we get the chance to speak with entrepreneurs and listen to their stories. Here we feature Heather Camlin and Kristi Fox of Coco Yoga. You can check out their EquityNet profile here.

What ignited the spark in you to start a new business venture?

Growing Concerns Over Tomorrow’s Leap Second

 

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Tomorrow at 8pm, we’re adding an extra second to the day. Over the past 200 years, the length of a day has increased by two milliseconds, which is all well and good, but the insane accuracy of the atomic clocks we’ve been using since 1967 doesn’t account for that, so we’ve had to add leap seconds 25 times since 1972. Tomorrow, however, is the first time a leap second will be added during trading hours since markets went electronic.