Regulation A+ Offering: Hype or Reality?

Crowdfunding continues to disrupt the financial landscape, offering new paths for companies to raise capital. Within this realm, Regulation A+ offerings have emerged as a popular method, allowing businesses to attract funds from a wider pool of investors. However, the hype surrounding Regulation A+ has sparked debate about its success.

Is it truly a game-changer for startups and growing companies or merely a fleeting trend? This article delves into the aspects of Regulation A+ offerings, exploring both the benefits and obstacles. We'll analyze real-world examples, insights from industry experts, and regulatory guidance to provide a balanced overview of this intriguing financing strategy.

• Moreover, we'll discuss the evolving regulatory environment and its impact on Regulation A+ offerings.
• In conclusion, investors seeking to contribute in this crowdfunding trend should evaluate the potential risks and rewards carefully.

Understanding Regulation A+ in the realm of Startups

Regulation A+, a relatively new fundraising mechanism, presents a unique opportunity for startups seeking to attract capital. This level of SEC regulation permits businesses to openly offer their securities to the vast public, thereby increasing their potential investor base.

Startups evaluating Regulation A+ should thoroughly evaluate its suitability to their particular circumstances.

• Fundamental factors to consider include the nuances of the regulatory process, compliance requirements, and the anticipated costs associated with this fundraising route.
• Additionally, startups should develop a comprehensive investor relations strategy to effectively disclose information about their operation and the terms of the offering.

Obtaining expert advice from financial professionals is essential to navigate the complexities of Regulation A+ and ensure a seamless fundraising initiative.

Explore Title IV Reg A+ - Crowdfunder Blog

Dive completely into the world of Title IV Regulation A+, a funding mechanism that empowers businesses to raise capital from the public through public participation. Our latest infographic breaks down the intricacies of Reg A+, showcasing its key aspects and potential perks for both companies and investors.

• Unveil how Title IV Reg A+ differs from traditional funding methods.
• Attain insights into the licensing process for public offerings.
• Delve the diverse range of industries utilizing Reg A+ financing.

Visit our blog to download the infographic and stay informed about the latest trends in Title IV Regulation A+.

Fundraising Framework - Securex Filings LLC

Securex Filings LLC assists/supports/guides companies/businesses/enterprises in navigating the complexities of the/a/its Regulation A+ process/framework/system. This tier/stage/level of securities registration/filing/offering allows publicly traded/non-traded/privately held companies to raise capital/funds/equity from a wider pool/range/spectrum of investors/individuals/participants while providing greater/increased/enhanced transparency/disclosure/accessibility. Securex Filings LLC's team/experts/specialists possess/have/demonstrate in-depth knowledge/understanding/expertise of the Regulation A+ regulations/requirements/guidelines, ensuring a streamlined/efficient/comprehensive filing/submission/process.

For All: Crowdfunding

The world of finance is undergoing a revolution, fueled by the power of collective action. Previously reserved, access to funding is now within reach of everyday people thanks to groundbreaking crowdfunding platforms. These platforms enable individuals and entrepreneurs to gather capital directly from the public.

Say goodbye when financial support was solely allocated by established institutions. Crowdfunding has empowered the funding landscape, allowing anyone with a worthy idea to find the resources they need to make their dream a reality.

From personal endeavors to community development, crowdfunding has become a powerful tool for making a difference. Individuals can now directly contribute to projects that resonate with them and play an active role in shaping the future.

StreetShare

StreetShares is an groundbreaking online platform that pairs small businesses with individual investors. It provides companies with access to financing, empowering them to expand. By transforming the lending landscape, StreetShares empowers small businesses to become leaders in their communities.

• StreetShare offers a variety of investment opportunities tailored to the goals of small businesses.
• The platform is known for its simplicity, making it available for entrepreneurs of all sizes
• StreetShares has assisted thousands of small businesses to succeed since its inception.

Harnessing Regulation A+ for Thriving Fundraising

Regulation A+ has emerged as a viable tool for companies seeking to raise resources in the public markets. This groundbreaking regulatory framework enables businesses to secure investment from a broad range of investors. By harnessing the versatility of Regulation A+, companies can optimize their fundraising strategies, eventually fueling their growth.

To efficiently utilize Regulation A+ for fundraising, businesses should meticulously structure a detailed offering prospectus. This document should concisely articulate the company's vision, market opportunity, and investment projections.

Additionally, companies must build a strong network with qualified financial advisors who are proficient in the intricacies of Regulation A+.

EquityNet

SEC EquityNet is a/serves as/functions as an online platform that empowers/facilitates/enables access to private market investments. It offers/provides/presents a comprehensive database/repository/catalog of investment opportunities from various/numerous/diverse companies. Registered investors can browse/explore/review these offerings, conduct due diligence, and potentially/may/could participate in rounds/deals/transactions. EquityNet plays a/serves as/acts as a vital/crucial/essential resource for both individual investors and businesses/companies/entrepreneurs seeking capital.

Reg A+ Offerings

Regulation A+, often known as Regulation A Plus, is a provision within the U.S. securities regulations that allows private companies to raise capital via public funding . A company conducting a Regulation A+ offering can seek up to tens of millions in investment capital. These offerings are governed by the Securities and Exchange Commission (SEC) {and provide companies with a streamlined path for public fundraising compared to traditional initial public offerings (IPOs).{

• Core elements of Regulation A+ include:
• Offering amounts are relatively low compared to IPOs.{
• Simplified registration procedures .{
• Potential investors are primarily accredited parties.In conclusion, navigating Regulation A+ crowdfunding requires a thorough understanding of the guidelines. Seeking guidance from securities law and legal counsel is crucial to navigate successfully this complex regulatory environment.

  Offering Requirements in the Regulatory Realm

  Successful launching a offering involves meeting stringent legal requirements. These requirements often encompass various aspects, such as adherence with legislation, licensing protocols, and transparency standards. Regulators typically set these requirements to protect investors and maintain a stable financial system. Comprehending these regulatory mandates is essential for businesses to operate legally in the financial sector.

  Legislation + Investopedia

  Investopedia serves as a comprehensive platform for understanding financial concepts, and regulation plays a pivotal role in this landscape. Whether you're exploring the intricacies of stock exchanges , delving into the nuances of compliance , or simply seeking to grasp the impact of industry standards on the financial world, Investopedia offers a wealth of information . Its articles, tutorials, and glossary provide clarity on the evolving regulatory environment, empowering individuals to make informed decisions in the realm of finance.

  My Mini-IPO First JOBS Act Company Goes Public Via Reg A+ on OTCQX

  After months of intensive/dedicated/arduous work and preparation, we are thrilled to announce that our/my/the mini-IPO, powered by the JOBS Act and conducted through a Reg A+ offering, has successfully taken place. Our company/My company/The company, now publicly traded on the OTCQX market, is poised for exponential/rapid/sustained growth as we embark on this exciting new chapter.

  This milestone marks a significant/pivotal/monumental achievement for our team and validates/demonstrates/confirms the strong belief in our vision and products/services/platform. We are incredibly grateful for the support of our investors, advisors, and employees who have been instrumental in making this dream a reality.

  Looking ahead/Moving forward/As we progress, we are focused on expanding/scaling/growing our operations, leveraging/utilizing/harnessing the OTCQX platform to its fullest potential, and delivering exceptional value to our stakeholders/our investors/the market.

  • We encourage you to follow our journey/Stay tuned for updates/Keep an eye on our progress as we navigate this new terrain.
  • Together, we will achieve great things/This is just the beginning of our success story/The future is bright for our company/my company/the company.

  Enable Reg A+ Raises on the Platform

  FundersClub is thrilled to announce it's now supporting Reg A+ offerings on its platform. This exciting development offers a new avenue for companies to attract capital from the wider investor base. Reg A+ regulations offer a streamlined and affordable route for companies to raise investment from various investors, including both accredited and non-accredited individuals. This enhancement strengthens FundersClub's commitment to leveling the playing field access to capital for emerging companies.

  Securities Regulation
  

  Regulation A+, often referred to as Reg A+, provides a pathway for enterprises to secure capital through the public market. Unlike traditional initial public offerings (IPOs), Reg A+ is designed to be more streamlined for emerging businesses. Through this framework, companies can issue their securities directly to the general market.

  Crowdfunding platforms have emerged as a key mechanism for Reg A+ IPO listing offerings. These platforms link companies with potential investors, often utilizing an online marketplace.

  • Some popular crowdfunding platforms that support Reg A+ offerings include

  Rule 257 Offering
  

  A Regulation A+/ is a type of securities offering/registration/transaction that allows companies to raise capital from the public/general investing population/marketplace without having to undergo the complexities/rigors/challenges of a traditional IPO/Initial Public Offering/stock market launch. Companies choose this avenue/path/route because it offers a more streamlined/efficient/affordable process and can be particularly beneficial for startups/small businesses/emerging companies looking to secure funding for growth or expansion.

  • Key benefits of Regulation A+ offerings include:
  • Increased access to capital for companies:
  • Reduced regulatory burdens compared to traditional IPOs:
  • Opportunity to build a wider shareholder base through public exposure/marketing/awareness:

  Regulation A+ Rules for Capital Raising

  When it comes to exempt offerings and fundraising, understanding the nuances of Regulation A+ is paramount. The SEC have established stringent rules and guidelines designed to ensure transparency for both businesses seeking capital and investors . A+ Regulation offers a path for startups to raise substantial amounts of capital from the wider market, subject to specific procedures . Navigating these regulations can be complex , making it crucial for prospective issuers to seek expert guidance .

  • Fundamental principles of Regulation A+ comprise information sharing obligations aimed at providing participants with a thorough understanding of the offering.
  • Due diligence play a critical role in ensuring the validity of offerings under Regulation A+.
  • Regular updates is expected to maintain investor confidence .

  Slideshare

  SlideShare serves as a platform for sharing professional and educational content. Users can post their own slides on a variety of themes, ranging from {marketing to technology{ to personal development. SlideShare is widely used by professionals, educators, and students to share ideas.

  • Discover a wide variety of content covering a spectrum of industries and disciplines.
  • Developing a SlideShare deck can be easily accomplished.
  • {The platform allows for|Users can embed interactive elements to enrich your presentations.

  Rule A Securities Act of 1933 Jobs Act Subsection 106 Reg A Tier 2 Campaign

  The Financial Markets Adjustment Act of 2010, also frequently known as the Jobs Act, introduced significant revisions to the Securities Act of 1933. One key inclusion was Provisions A Tier 2, a streamlined pathway for companies to raise capital through equity sales . Reg A Tier 2 enables businesses to offer securities to the public without the extensive registration requirements of a traditional IPO. This option can be particularly helpful for small and medium-sized enterprises (SMEs) seeking capital .

  • Commonly, Reg A Tier 2 campaigns are limited to procuring a maximum of twenty million dollars per year.
  • Companies utilizing Reg A Tier 2 must still conform with certain reporting requirements, but the responsibility is noticeably less than a traditional IPO.

  Controlled by the Securities and Exchange Commission (SEC), Reg A Tier 2 provides a valuable tool for companies to access public capital markets in a more streamlined manner. Nevertheless, it is essential for companies considering this method to carefully examine with legal and financial advisors to ensure full compliance with all applicable regulations.

  Managing Text
  

  When handling text, regulations play a crucial role. This helps guarantee quality and prevent issues. {Regulations canfocus on various aspects of text, such as content. They might specify formatting requirements. By implementing these regulations, we can improve the overall impact of written communication.

  Regulation A+ Offering Regulation A Plus

  When considering a Investment with a Regulation A+ offering, it's crucial to thoroughly Review the Conditions. These offerings provide Investors the chance to invest in Growing companies while benefiting from Targeted Guidelines. Regulation A+ presents a Streamlined pathway for companies seeking Funding, allowing them to Obtain capital from a broader range of Participants.

  • Understand the Mechanics of Regulation A+ offerings.
  • Evaluate the risks and Rewards involved.
  • Seek advice with a qualified Legal professional.

  Regulation A vs. Order D FRB

  When navigating the world of securities offerings and bank regulations, understanding the distinctions between Regulation A and Order D issued by the Federal Reserve Board (FRB) is crucial. Regulation A, often referred to as, a "mini-IPO," provides an exemption from certain registration requirements for offerings of up to a specific amount. In contrast, Regulation D governs private placements and offers exemptions to securities sales to sophisticated purchasers.

  Choosing between these two regulations hinges on several factors, including the size of the offering, the target market, and the issuer's capital position. Carefully analyzing these elements is essential to select the suitable regulatory pathway for a successful securities transaction.

  Regulating a DPO Internally

  The task of regulating a Data Protection Officer (DPO) can be complex, involving a variety of methods.

  This typically entails establishing clear policies for their duties, securing they have the appropriate resources and influence to competently perform their responsibilities.

  Furthermore, regular progress assessments are often utilized to track their adherence with data protection regulations and the organization's own policies.

  The SEC Approves New “Reg A+” Rules for Crowdfunding

  In a landmark/major/significant move to empower/stimulate/foster the crowdfunding industry, the Securities and Exchange Commission (SEC) has approved/finalized/ratified new rules for Regulation A+. This revamped/updated/enhanced regulation, known as “Reg A+”, aims to streamline/simplify/expedite the process for companies/businesses/enterprises to raise capital/funds/investment from the public.

  Under the new rules, small/start-up/emerging businesses will have a greater/wider/more extensive opportunity to access/attract/secure funding through crowdfunding platforms/websites/sites. The SEC believes that these changes will boost/increase/accelerate economic growth and provide/offer/deliver more investment opportunities/choices/possibilities for individual investors.

  The new rules include/New regulations encompass/Key provisions of the revised regulation/These amendments establish several key/important/essential changes, including/such as/among which:

  * Increased/Higher/Elevated funding limits/thresholds/caps.

  * Streamlined/Simplified/Expedited filing and reporting requirements.

  * Enhanced/Improved/Strengthened investor protections.

  The SEC’s decision to update/reform/restructure Reg A+ is expected to have a profound/substantial/significant impact on the crowdfunding landscape, making it more accessible/opening doors wider/creating new avenues for both businesses and investors.

  Regulation A+ vs. Differences Between Reg A and Reg D

  When exploring the world of fundraising , you'll discover two key regulations : Regulation A+ and Regulation D. While both enable companies to raise capital from the public, they contrast significantly in their application. Regulation A+, often dubbed a "mini-IPO," enables companies to raise significant amounts by distributing securities to the general public through a streamlined process. In comparison , Regulation D is geared towards smaller offerings and restricts investors to a more select group .

  • Moreover, Reg A+ demands greater information sharing with the public, while Reg D offers increased discretion in this regard.
  • Therefore, choosing between these two rules hinges on factors like the company's capital requirements , target audience , and regulatory compliance

  Section 506

  Regulation D encompasses a set of rules regulating the private placement of securities. Within Regulation D, Rule 506 outlines specific requirements for exempt offerings. There areIt is divided intoSeveral variations exist within distinct classifications under Rule 506: Rule 506(b) and Rule 506(c).

  • Rule 506(b) permits issuers to sell securities withoutpublic registration to an unlimited number of accredited investors and a limited number of non-accredited investors.
  • Rule 506(c) allows for offerings solely to accredited investors, with no restrictions on the number of participants.

  Additionally, there is Rule 506D, which provides a framework for equity crowdfunding offerings. These rules are designed to protect investors while issuers.

  Series 7 Regulation

  When navigating the complexities of Regulation D, understanding the distinctions between Rule 506(b) and Rule 506(c) is crucial. These rules govern private placements under Section 4(2) of the Securities Act of 1933. Rule 506(b) permits offerings to an unlimited number of accredited investors and up to thirty-five non-accredited investors, while Rule 506(c) allows for unrestricted |general solicitation and advertising but mandates that all investors be accredited. A key distinction is the requirement for due diligence by companies offering securities under these rules.

  The Series 7 exam oftenevaluates these concepts, so familiarity with both Rule 506(b) and Rule 506(c) is indispensable. Understanding the nuances of each rule can help you assess the appropriate structure for a private placement and navigate the regulatory landscape effectively.

  • Remember: Rule 506(b) offers more flexibility with non-accredited investors, while Rule 506(c) relies on investor accreditation.
  • Evaluate the specific needs of your offering and the level of due diligence required under each rule.

  Uncover DreamFunded Resources on Regulation A+

  Navigating the nuances of Regulation A+ can be a daunting process for investors and enterprises alike. Fortunately, DreamFunded offers a wealth of valuable resources to help you understand this innovative funding mechanism. Their website is a goldmine of data on everything from regulatory requirements to capital raising strategies. Whether you're an seasoned investor or just starting your journey into Regulation A+, DreamFunded's resources can help you make informed selections.

  • Harness their in-depth tutorials to master the intricacies of Regulation A+
  • Engage with a community of individuals and companies
  • Obtain exclusive analysis from industry authorities

  Alternative Trading Systems

  The alternative trading system provides a platform for the exchange of securities that are not listed on major stock exchanges. These markets operate outside the regulated system of traditional exchanges, often presenting investors with access to smaller companies and alternative investment avenues. Trading on OTC Markets can be more volatile than those on traditional exchanges, as guidelines are generally less stringent.

  • Traders in the OTC market should carefully research companies and understand the inherent volatility.

  An Intersection Point

  A tripoint is a geographic juncture where three lines converge. This can apply to the meeting of three political entities, or it could be the intersection of three bodies of water.

  The precise description of a tripoint can differ based on the context. For example, in cartography, a tripoint might be marked by a symbolic marker, while in geology, it could simply be the point where three ecosystems meet.

  Regardless of its manifestation, a tripoint represents the convergence of different forces. It serves as a singular location on the map, highlighting the complex connections that shape our world.

  The Financial Industry Regulatory Authority

  FINRA is a/plays the role of/serves as the largest/leading/primary independent regulator/self-regulatory organization/oversight body for the U.S. securities industry. It oversees/regulates/administers a vast network of broker-dealers and financial advisors/investment professionals/trading firms, working to protect investors and ensure/maintain/promote market integrity. FINRA's comprehensive/expansive/wide-ranging regulatory framework encompasses a myriad/an array/numerous aspects of the securities industry, including brokerage activities, investment products, advertising practices/market surveillance, investor education, dispute resolution.

  • FINRA develops/implements/enforces industry rules and regulations to govern/that govern/governing member firms.
  • Through/By means of/Utilizing its extensive regulatory authority, FINRA strives to/seeks to/aims to prevent fraud/abuse/market manipulation.
  • FINRA also provides/offers/administers a range of investor services/tools/resources, including educational materials, complaint handling procedures, arbitration forums

  The Jumpstart Our Business Startups Jobs Act in 2012

  The Jumpstart Our Business Startups Jobs Act of 2012, also known as the JOBS Act, is a {landmark|major|legislation passed by Congress to stimulate entrepreneurial activity within the United States. That aims to make it less difficult for small businesses to raise capital by easing regulations on securities offerings. This JOBS Act has several key provisions, including the option for companies to advertise their offerings more widely, the introduction of crowdfunding as a platform to raise capital, and {themodification of restrictions on private company fundraising. Supporters of the JOBS Act argue that it will assist small businesses to grow, produce jobs, and boost economic growth. Critics, however, voice concerns that the Act could cause increased risk for investors and {potentiallyrestrict responsible market behavior.

  Titan Group

  Tycon Group is a rising entity in the manufacturing industry. Known for its innovative services, Tycon regularly pushes the boundaries of what's possible. Their dedication to quality is evident in every facet of their operations.

  From humble origins, Tycon has expanded into a global leader. Their influence spans across various markets, and their reputation is synonymous with triumph.

  SEC qualification

  Securing qualification from the Securities and Exchange Commission (SEC) is a essential step for organizations seeking to raise capital. The SEC reviews applications meticulously to ensure conformity with federal financial regulations. Receiving SEC registration demonstrates a company's legitimacy and grants access to public markets.

  • Companies must submit a comprehensive offering document detailing their financial information.
  • Regulatory bodies may require additional documents during the evaluation period.
  • Once approved, companies can issue securities.

  Help raise funds

  GoFundMe provides an avenue to start fundraising campaigns for various purposes. Whether it's supporting a worthy cause, GoFundMe makes it easy to solicit funds from family and friends. Start fundraising now and help others.

  Indiegogo

  Kickstarter is a service that lets people to support creative projects. It's a popular way for inventors to secure the money they want to develop their ideas to life. Users can create project descriptions and potential backers can pledge various figures. In exchange , backers may get rewards such as early access to the product, exclusive content, or even a chance to participate in its building. Kickstarter has evolved into a dynamic hub for creativity and innovation, connecting makers with backers worldwide.

  Kickstarter

  Is the project needing some necessary funding? Consider starting a campaign on Indiegogo, a online contribution platform built to help businesses fund their goals. With Indiegogo, you can present your project with the audience and secure donors who believe your idea. From gadgets, Indiegogo offers a broad range of categories to suit various type of project.

  Stock Investment

  Equity investment entails holding shares of ownership in a company. This means you become a fractional owner and have the potential to earn from the company's success. Entrepeneurs engage in equity investment through various platforms, such as stock exchanges or directly with companies. It is a volatile investment strategy, but it also offers the opportunity for significant profits. Understanding the principles of equity investing is crucial before making any actions.

  EquineT

  EquityNet is a network that connects backers with companies. It provides a opportunity for both parties to interact and enable funding. Investors can browse through a variety of opportunities from businesses across various industries. Businesses can present their concepts on EquityNet and attract investment to help them grow. The platform also offers guidance and assistance to both investors and businesses, making it a holistic solution for financing entrepreneurial ventures.

  Leap into Unknown Territory

  Venturing into the realm of innovation is a daunting challenge. It demands courage to navigate a path through obstacles. Successful ventures often blossom from a combination of dedication and a willingness to adapt in the face of hurdles.

  • Cultivating strong bases is paramount.
  • Identifying a niche in the market can be pivotal.
  • Tenacity often separates those who thrive from those who falter.

  GS

  Goldman Sachs is a renowned global firm headquartered in New York City. Known for its strengths in trading, Goldman Sachs has played a pivotal role in driving the global markets for over a century. The firm is renowned for its talented employees who always aim to deliver exceptional results for clients worldwide. With a long history of success and progress, Goldman Sachs remains a dominant force in the global financial industry.

  Merrill Lynch

  Merrill Lynch is a/was a/has been globally recognized financial institution/investment bank/brokerage firm. Established in/Founded in/Originating from New York City in the year/during the year/around the year 1890, it quickly grew to become/maintained its position as/established itself as one of the largest/most prominent/leading firms in the industry. Known for/Renowned for/Famous for its expertise in/range of services/diverse portfolio, Merrill Lynch has consistently delivered/provided/offered a wide array of/comprehensive suite of/extensive selection of financial solutions to individuals, institutions and corporations worldwide/services to a diverse clientele.

  Fuel Your Dream Project

  A funding platform is a powerful way to bring the capital you need for your project. By reaching out with a wider audience, you can generate backing from contributors who believe in your vision.

  • Harness the strength of a unified effort to transform your goal
  • Democratize access to investment and remove traditional barriers
  • Build a community of passionate believers who share your project

  Investment Platforms
  

  The realm of venture capital has been revolutionized by the emergence of crowdfunding platforms. Among these, Regulation A+ Reg A stand out as a vehicle for companies to raise funds from the public. Supported by by the Securities and Exchange Commission (SEC), these rules provide a system for companies to sell securities to a broader audience. Alternatively, Regulation D offers a {private route for companies to secure funding from high-net-worth individuals. A key separation lies in the scale of investments attracted, with Reg A securities targeting a wider range of investors. Conversely, Reg D offerings often involves a narrower group of qualified buyers. To navigate this complex landscape, companies may employ the expertise of investment professionals to ensure compliance with regulatory requirements. The SEC filing process for companies seeking public funding through Regulation A Plus can be a lengthy undertaking.

  Funding Campaigns

  In today's dynamic business landscape, companies are constantly seeking innovative ways to attract investment. A plethora of options exist, ranging from traditional venture capital firms to crowdfunding platforms and even debt financing.

  Entrepreneurs|Startups|Tech Companies can leverage these various avenues to fuel their growth, expand operations, and bring innovative ideas to market.

  Some notable players in the funding ecosystem include Endurance Lending Network, RocketHub, as well as platforms like VC.

  Investors|Individual Investors|Accredited Investors play a crucial role in this process, providing the necessary capital to fuel innovation and economic expansion.

  The JOBS Act has significantly impacted the funding landscape by providing greater access for both backers and startups.

  Online Business Funding|Crowdfunding Campaigns|Real Estate Investments have also witnessed a surge in popularity, allowing individuals to participate in investment opportunities previously reserved for institutional players.

  Platforms like EquityNet have democratized the capital raising process, empowering everyday investors to contribute to ventures they believe in.

  Seed Stage companies often rely on angel funding to get off the ground, while later-stage businesses may turn to Initial Public Offerings to raise substantial equity.

  The future of investment is poised for continued innovation and evolution, with emerging trends like deFi finance shaping the landscape.