JOBS Act was signed into law in 2012, but only in 2015 SEC adoptedRules to Facilitate Smaller Companies' Access to Capital.Starting May 16, 2016, companies can use crowdfunding to offer and sell securities to the investing public (seethe SEC Bulletin) and effect of crowdfunding on private equity investment is quite uncertain. Professional magazines discuss the future of VC and crowdfunding. Thus in 2013 CFO published an article "How Venture Capital and Crowdfunding Can Coexist". Entrepreneur magazine sometimes agrees (How Venture Capital and Crowdfunding Can Be Mutually Beneficial), but sometimes it sounds more skeptical "Will These 5 Models of Crowdfunding Replace Angel and VC Investors?"