Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.
When the venture industry started, it was enough to just have money and then it was enough to sort of have this big fuzzy brand. But now startups are getting a lot smarter.
We just think it's important that everybody have some technical training and background. Even though not everybody is coding but even our deals team and our designers all have GitHub accounts and they go into the code base.
There's so much innovation going on, and there are lots of people funding that innovation, but there's very little innovation on that infrastructure for innovation itself, so we like to do that ourselves to help companies create more tech companies.
Startups often want to control the timing of their financing announcement and prefer not to reveal amounts raised for competitive reasons. If more of the Form D information was confidential rather than public, compliance rates would jump dramatically.
