EAN: 9783030003821

LEADERS OF THE CROWD - ADAM GOWER GEBUNDEN

Crowdfunding is nothing new. In fact  America was built and financed by crowdfunding. But in
1933 Congress passed the Securities Act  which shut the door on this most democratic means of
raising capital and spreading wealth. In 2012  enjoying broad bipartisan support  congress
threw the doors open again  passing the JOBS Act (Jumpstart Our Business Startups). Its intent
was to stimulate growth of small businesses and startups  but an unexpected consequence of the
Act was that the biggest beneficiary has been the real estate industry. Researching the origins
of the JOBS Act  Dr. Adam Gower conducted a series of conversations with the people who lobbied
for and wrote the laws that became the Act. What he discovered was that at no time had anyone
thought that the real estate industry was a relevant constituency. Perplexed by this disconnect
between what had been intended and what had happened  he talked to those who had been the very
first real estate people to utilize the JOBS Act. These pioneers  all moving on parallel tracks
seeded the biggest  most transformational change to the real estate industry in history. This
book uncovers these conversations with the people who created the laws and those who connected
the dots to real estate. It weaves a thread through the labyrinthine processes of government 
chronicling how the Act was conceived  formed  and ultimately signed into law  and it reveals
how the visionaries who have revolutionized real estate capital formation embarked on their
missions to change their industry forever. Learn how the JOBS Act  never expected to benefit
real estate  has transformed the industry  changing the way capital is raised and syndications
are formed forever and how an unintended consequence is helping almost everyone in America
invest in real estate like never before.

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