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by cwb71
4811 days ago
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Just noticed this response from Braff’s AMA: “You can’t really raise enough money on Kickstarter yet. There are some new sites starting that will eventually allow anyone and everyone to own a piece of a movie; invest in it like a stock. But you can imagine the amount of legal issues this raises. So look for it sometime around 3012.” http://www.reddit.com/r/IAmA/comments/19uwm9/i_am_zach_braff... What a difference a month (and a $5.7 million Veronica Mars Kickstarter) makes! |
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Braff clarifies in this Buzzfeed article[1]:
“I would love, more than anything, to have it be you get an equity stake. You have 10 bucks, you make your 10 bucks back with the percentage of profit, like a stock. But that's not legal yet. I think it's an exciting idea, that you can go, "Oh, I like x, y, and z, I want to buy a piece of that potential film project." I think that that's coming. But we're not there yet legally.
So what do you do in the meantime? You offer them any and every incentive you can think of. But at the very least, if you pay 10 bucks, you're joining what I like to think of as this club. You see how active I am on social media. I drive my family, friends, and girlfriend crazy. I get a lot of joy out of it. So turning that into an online behind-the-scenes filmmaking magazine, where there will be videos and content and people who are interested in the behind-the-scenes of the making of a movie will go on this ride alongside me — I think that's cool for 10 bucks.”
Buzzfeed: You're right — last year Congress passed the JOBS Act, which does allow for equity-based crowdfunding, but it can't happen until the SEC issues rules on how to do it. Which they haven't done yet.
[1] http://www.buzzfeed.com/adambvary/zach-braff-on-why-kickstar...