Oh what crowdfunding could be. If only the U.S. Securities and Exchange Commission would get its act together.
So says the Washington, D.C.-based American Institute of Architects (AIA).
Crowdfunding, the popular form of raising money via Internet sites like Kickstarter and Indiegogo has taken off in the last few years as a way to back everything from films to light bulbs to skyscrapers.
But crowdfunding is missing one ingredient that would help it push forward economic recovery: Investors cannot use crowdfunding sites to purchase equity and thus gain the potential financial rewards of shareholding. Today, funders basically make donations.