Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
10 April 2000
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Lights, Camera, Action; Dating Silicon Valley Style at Fry's; and Dot-Com Rush.
1. How to raise capital?
First, it is a sole-proprietorship, or a partnership, then a C Corp. if you want to raise capital. If it's under $1M then the rules are a lot simpler but chances of success are limited.
Suppose the Marketing Package is designed for those that have IRC Section 1202 Qualified Small Business Stock [QSBS] so that the investor(s) can sell their QSBS and reinvest into Yourself- Inc.Com, a QSBS without paying tax. Suppose further you are in Washington, D.C.'s Enterprise Community which has a ZERO CAPITAL GAINS ZONE, or in one of the proposed 100 Community Renewal Zones that will have a ZERO CAPITAL GAINS ZONE, will that make the sales pitch easier? What if the first investors are paid $.001 and the second round is at $1?
2. Life is tough in the fast lane.
Silicon Valley has many stories but the latest, on dating, is real interesting. Apparently e-mails are not enough, and launch parties in San Francisco [two or three a night] does not cut it. The interesting facts in this story, which appear to be very common, are the 80 to 100 hour weeks, some of which MUST be in the home, apartment or in the car. Beepers, cell phones, and e-mails are the way of life in the New Economy. Are we ever not doing business? We suggest that the New Economy will come back into the inner cities if all this continues [add the restaurants, hair stylists, spas, bookstores, and pubs] with walking to make it all work.
3. Dot-Com Rush is here to stay says Washington Post.
The spirit of the New Economy, or to some "Greed," is alive and well and the East Coast is losing out to the West, including Boulder Colorado [Denver-Boulder is 2nd behind Silicon Valley in Venture Capital].
This is a fantastic story, and the statistics are the same, good employees want something special, how about ZERO CAPITAL GAINS ZONES, with live/work housing that qualifies as an Enterprise Zone Business with $65,000 IRC Section 179 deductions. The good news is that may be coming to 100 Community Renewal Zones throughout the United States if Chairman Bill Archer of the House Ways and Means Committee has his way. However, if President Clinton's Learned Staff has their way it will be business as usual. Thus we suggest Pittsburgh, Chicago, Detroit, and other cities, who need these young brains speak out for the American Communities Renewal Act of 1999.
Jim Schneider, LL.M.
Taxman86
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