The State of Washington has been weighing the possibility of implementing an intrastate crowdfunding exemption. The House Business & Financial Services Committee discussed the bill late in January, and we now have the video of that hearing.
Representative Cyrus Habib (D-48th) has championed the effort. He knows the challenges startups face in raising capital. He practices law and advises startups at Seattle-based law firm Perkins Coie.
Among the testimonies provided, Attorney and StartupLawBlog.com proprietor Joe Wallin testified as well as Adam Lieb, CEO at gaming-focused social network Duxter. Both expressed support for the bill. Lieb in particular had an interesting story that started with an exit he experienced at a very young age. He points out that he could have benefitted from crowdfunding greatly as a young entrepreneur.