Funded! This project was successfully funded on April 14, 2012.

Update #3

It's illegal to invest $100 in a startup. Should Congress change that?

6 comments

Did you know it's illegal to invest $100 in a startup? 

As Tim Rowe, director of the Cambridge Innovation Center wrote in a Huffington Post article, "Ordinary individuals [can't] invest in each others' new businesses. "Unsophisticated" investors [are] simply considered too gullible to take this risk."  Tim's been advising the Senate on The Democratizing Access to Capital Act to change all of that.

Yesterday, we were interviewed on PBS to discuss what Crowdfunding can mean for inventors like us. Please watch the video and tell us where you stand:  If it were legal, would you invest in Gotham, or another small business?  What kind of restrictions should our government make?

(Click this link to watch the video)

  • Image-100827-full

Comments

    1. 400507_10100627632591060_714727157_n.small

      Creator Slava Menn on March 21, 2012

      Agree with @James and @Steven. Is it possible snake oil salesmen to commit fraud? Yes. But that's what our legal system is for - to prosecute criminals who commit fraud. The greater impact will be the creation of great companies that were overlooked by "accredited investors".

    2. Missing_small

      Creator Steven on March 20, 2012

      I would love the oppertunity to truely invest in a company like Gotham. Its my money and where I put it (bank, mutal fund, or new company) shouldn't be regulated by the government. If I lose it thats my own fault, not the government, not Tim Rowe.

    3. Image-262744-full.small

      Creator James Dalley on March 20, 2012

      I believe complete freedom in the market. People have the right to make stupid decisions. The government should not force us to make "smart" decisions. A law like that needs to be repealed. The Free Market Rules!

    4. 400507_10100627632591060_714727157_n.small

      Creator Slava Menn on March 20, 2012

      Thanks @Bill and @Shaun. We left the most important thing out of the project update: we're not actually seeking investment - it was more a hypothetical in line with the current bill that Congress/Senate are passing on Crowdfunding (link below). @Shaun, after playing the VC game in a previous startup, we never want to do it again :)
      www.huffingtonpost.com/tim-rowe/crowdfunding-jobs-act_b_1366882.html

    5. Missing_small

      Creator Shaun Lay on March 20, 2012

      I didn't think I was investing in Gotham... I'm putting down payment on a cool piece of kit for my bike. Investing implies that the backers own some part of of Gotham... I don't want that to happen. I want to see you guys make and keep the profits from your ideas rather than some schmuck with capital buying out your awesome idea.

    6. Fb_profile_picture.small

      Creator Bill Phelan on March 20, 2012

      The best kind of "crowdfunding" is right here, and this is the right formula for investing for the average person. You offer a product. You take orders. You deliver on orders. And if you cannot generate enough interest in what you do, you do not get orders. I am sure you will find investors who track progress on this site, and want to consider investing based upon the track record you can build. Always better to spend your time talking to customers rather than investors. Kickstarter has completely changed the game on the process of identifying customers cheaply, so enjoy it!!

1,175
Backers
$84,728
pledged of $18,000 goal
0
seconds to go
  • Pledge $10 or more
    You selected

    24 backers

    Gotham Water Bottles. Made with 24oz Specialized Water Bottles: BPA-free and anti-bacterial. The water bottle choice of the professional cyclists. (Intl backers pls add $5 for shipping).

    Estimated delivery:
  • Pledge $25 or more
    You selected

    33 backers

    Gotham Bicycle Defense Industries T-Shirts Printed. on soft, form fitting, American Apparel. Choice of Gray or Black. We'll get your size upon order. (Intl backers pls add $5 for shipping).

    Estimated delivery:
  • Pledge $50 or more
    You selected

    713 backers

    The Defender: Theft-Resistant Bike Light. Made of lightweight aluminum with using ultra-bright LEDs and 100 hours battery life. Will retail for about $70. (Intl backers pls add $10 for shipping).

    Estimated delivery:
  • Pledge $70 or more
    You selected

    126 backers

    The Full Monty. A bundle with The Defender bike light, t-shirt, and water bottle. (Int'l backers please add $15 for shipping).

    Estimated delivery:
  • Pledge $90 or more
    You selected

    38 backers Limited (12 left of 50)

    Early-Bird Award! Be the first to get The Defender: Theft-Resistant Bike Light. We already placed a production order for the first batch and we'll be ready to ship just after the campaign ends. (Int'l backers pls add $10 for shipping).

    Estimated delivery:
  • Pledge $95 or more
    You selected

    123 backers

    Two-Pack! Many of you have asked so we're offering two Defenders! If you want to order 3 or more, just message us. (Int'l backers pls add $15 for shipping).

    Estimated delivery:
  • Pledge $150 or more
    You selected

    7 backers Limited (3 left of 10)

    The Defender with Custom Engraving. Here at MIT, we know how to use lasers! So we'll engrave your name or any short custom message on The Defender. You can let us know later. (Int'l backers pls add $10 for shipping).

    Estimated delivery:
  • Pledge $160 or more
    You selected

    41 backers

    *Just Released* Four-Pack! Many supporters give Defenders as gifts for bike riding friends so we're offering a Four-Pack. (Int'l backers pls add $18 for shipping).

    Estimated delivery:
  • Pledge $250 or more
    You selected

    20 backers All gone!

    Limited Edition "Gunmetal Black" Defender with Serial Number. For our early supporters, we're making a limited edition run in a custom color: Gunmetal Black. Each light will have a unique serial number on it. It's going to look sweet. (Int'l backers pls add $10 for shipping).

    Estimated delivery:
  • Pledge $600 or more
    You selected

    10 backers Limited (10 left of 20)

    Bicycle Shop Starter Pack with 20 Defenders packaged for point of sale. Be the first Bike Shop in your area to carry the Gotham Bicycle Defense Industries Line. (Int'l backers, shipping cost depends on location. Let's talk.)

    Estimated delivery:
Featured!
Funding period

- (59 days)