Howard Marks

The geography has to be in their favor.

But what is everybody else supposed to do?

Women, people with minorities, people who live around the country, people who are doing new ideas that don't fit the VC model.

What are they supposed to do?

They can go to friends.

They may get some angels.

But so we decide to build a solution for them where they can raise money from the crowd and the crowd becomes their advocate.

And we've raised money for over 100 companies so far.

This year, we're going to raise money for 500 companies.

So we have both.

The big volume is in dollars.

People are investing using credit cards, ACH, which is from their bank or wires.

And now, recently, we've allowed Bitcoin and Ether investments into what you call ICO, initial coin offerings.

These are companies, instead of issuing shares, they're issuing tokens.

But those tokens are also considered securities.

Okay, so until we came into the picture, everybody who was doing an ICO were raising tokens as a toy, like a utility token.

They were not viewed as a security.

They were viewed as a service, software service.

So you would issue a token for $5.

That will allow you to use that token to get a service.