Anything that assists us entrepreneurs in raising capital, sure makes a difference. The key here is the size of funding one would need. The more accessible and efficient the Cloud model becomes to kickstarting a software-based service start-up, the more applicable crowdfunding becomes. The true "dirty details" is that if the company becomes mega-successful, like that of Box.net et al, the early crowdfunding angels may get squeezed out by serious dilution as the Company begins to raise serious rounds of capital, e.g., $10M+. There is a reason for and rich, successful tradition of angel investors & venture capitalists. If the Act allows the shares in private companies to be traded over-the-counter in an exchange, then we're talking about going quasi-public... There is a whole series of laws on that. I like the idea, but how viable would it be when an investor in crowdfunding wants out, how liquid is that share, and if it's considered by the SEC as a share capable of being traded, well, it just may be another form of public funding of a private entity - the reason the SEC exists... Does this have legs? Maybe. I'll take a wait and see attitude while I continue to work with angel investors and venture capitalists.