I saw this TechCrunch article in my RSS reader and thought I would pass it on to you:

Social Median Disregards 60 Years of Securities Regulations With Sale of Stock on Twitter

I’m a new user of Twitter and I believe it can be used for a lot of things. Soliciting Investors? Not one of them.

When it comes to raising capital and soliciting investors, I think the best approach you can take is that you should assume you can’t do what you want to do.

Popularity: 6% [?]

I mentioned last week that Y Combinator was open sourcing their angel funding legal documents. I also noted that soon after the documents were made public, people (myself included) received this error message visiting the documents’ URL:

Sorry, there’s a glitch with the documents and we had to take them down. We hope to have something back soon.

Well 6 days later the same error message appears if you visit the link. This leads me to believe that WSGR really did have an issue with the release of the documents. I do understand why WSGR would have an issue with the release, but I hope WSGR and Y Combinator can work it out.

Popularity: 4% [?]

Well I guess that’s it folks. I had a fun ride. Y Combinator has “open sourced” legal documents they provide to their startups seeking funding. The documents were created by Wilson Sonsini Goodrich & Rosati, Y Combinator’s law firm.

But as of 7:39PST on August 13, there is a “glitch” with the link to the open source documents. Here is the current message you get if you click the link to the documents:

Sorry, there’s a glitch with the documents and we had to take them down. We hope to have something back soon.

I’m wonder if by “glitch with the documents” they really mean that Wilson Sonsini Goodrich & Rosati is not exactly happy with this particular open source movement.

Popularity: 8% [?]