Will Schroter

And I want to be clear about that.

Number one, because their threshold to absorb deals is very low.

There aren't that many VCs.

There's hundreds of VCs, like maybe 800 of active VCs.

And they can only do so many deals.

They don't do that high of a volume of deals.

So there's a school of thought of folks that say, I want to be in a business that only takes the best deals working with the best VCs.

And I get that.

I understand why people feel that way.

That's just not the way I feel.

I want to fund the most number of entrepreneurs.

So my aperture is very different.

I'm thinking in terms of, I don't care how we help you, whether it's debt, whether it's VC, whether it's seed, whatever it is, I just want to help you move your business along.

Also worth noting, there aren't that many business types that are a fit for VCs.

So given how wide our aperture is in startups.com, if we were trying to fit everybody into the VC ecosystem, we'd be leaving most of our customers behind, which is really something we'd ever intend on doing.

When crowdfunding came around, it felt like that was going to change because it felt like you were going to get a new asset class, which is people like you and I investing directly into deals, not as angels, but as these kind of micro angels.

2012 was called the Jobs Act, which was going to really loosen up a lot of the regulations around how crowdfunding worked and how equity crowdfunding more specifically worked.

And some of that actually went through.

In other words, some of that actually happened, and it did change some of the things that we can do with crowdfunding.

But the part that it didn't change, and I'm sure a few people would argue against this, but the data, I don't know, doesn't show it otherwise.