The number of accredited angel investors in the USA declined 15.8% to 268,000 in 2012*.  Less than 35% of these 268,000 potential investors or 93,800 have any interest in seed stage investments.   Of these 93,800 potential seed stage investors less than 33% of these have any interest to invest in a company where they do not personally know the founders.  This leaves 30,954 for the all the startups in the USA to chase with the enactment of the JOBS ACT Title II permitting general solicitation.   Of this remaining 30,954 61% of their investments will go into healthcare, software and biotech.  If you are not in these limited categories then you are down to chasing 12,072 potential pre-qualified angel investors nationwide.

This very limited exclusive group of angel investors interested in seed stage investments and open to investing in people they do not know personally are already the most over-shopped group of people in the history of planet earth.  Every distressed real estate deal is already coming their way.  Every artificially depressed value pink sheet public company that fell off of NASDAQ is coming their way.  Every angel group has already recruited them to join their lists.  They receive probably two dozen emails a day with offers already. Opening this group up to MORE general solicitation advertisements is going to do absolutely nothing to improve the funding of our startup enterprises.   We need full fledged crowdfunding to be implemented, as passed by house 407 to 17 in November of 2011 and the Senate shortly thereafter, which was signed into law the President in April 2012 with a strict mandate by the congress and the President that the SEC implement it by no later than December 31, 2012.   This will open up entrepreneurs to access millions of new investors, which is what is needed for economic and job growth.