QUIZ 3 CMUN 272 April 3, 2017 Note: You need to do two out of three quizzes. If you did not do quiz 2, you must do quiz 3. If you choose to do three quizzes the lesser grade will be dropped. If you partnered for a previous quiz, do this alone. If you did previous quiz(zes) alone, you may partner with someone else for quiz 3. Date due: Thursday, April 13, at 1:00 p.m. Please submit a hard copy in class and post an electronic copy in Sakai> Assignments. If you do quiz with someone else, submit only one hard copy but upload separately in Sakai. Length: 2-3 pp. Single space. Double-sided is OK. You are encouraged to attach images. They do not count towards the minimum amount of pages. Please consult external references to back up or confirm historical or political facts, and consider the use of one or more maps. · Make sure your answers are 1) well organized; 2) carefully proofread; 3) well argued for (with claims and evidence); and 4) cogent. Always re-read final draft to make sure you have addressed the questions asked. · Be sure to cite, quote and paraphrase the textbook in a substantial manner (i.e., you need to demonstrate deep familiarity with the chapter’s content) · Always re-read questions and final draft (aloud) to make sure you have addressed the questions asked. · In order to answer this quiz you need to use and cite Chs. 4-5 from Sorrells (2013), as well as one of the films listed below. · Use external sources to support your answers, and include a reference list. · Provide a brief synopsis of the film and basic data (director, date of release, country of origin, actors, producers) · Provide strong introductory and conclusion paragraphs · Consider using stills from the film chosen. Question: Using one the films listed below, please define, explain and apply four of the following clusters of concepts: · Ascribed and avowed identity · Cultural Spaces ( contested, hybrid, or segregated ) · Waves of immigration (first, second, third) and world systems theory · Stages of adaptation (anticipation, shock and adjustment; and re-entry) · Migrant-Host modes of relationship ( Assimilation, Separation, Marginalization, Integration) · Migrant networks and Social capital. Feature Films: Maria Full of Grace, Persepolis. Documentary: Which way home. Now Anyone Can Invest in Startups—if They Have the Stomach for It When Oculus VR sold to Facebook for $2 billion in 2014, some asked: What if the people who backed the virtual-reality startup two years earlier on the crowdfunding site Kickstarter had received shares instead of T-shirts or VR headsets? They might have seen $100 turn into $14,000, says Richard Swart, chief strategy officer of NextGen Crowdfunding. Until the past year or two, the Oculus approach to crowdfunding was the only one available to everyday investors who aren’t wealthy. Federal law prohibited Kickstarter and similar platforms from offering shares to backers, so startups doled ...

1. QUIZ 3 CMUN 272 April 3,
2017
Note: You need to do two out of three quizzes. If you did not
do quiz 2, you must do quiz 3. If you choose to do three quizzes
the lesser grade will be dropped. If you partnered for a
previous quiz, do this alone. If you did previous quiz(zes)
alone, you may partner with someone else for quiz 3.
Date due: Thursday, April 13, at 1:00 p.m. Please submit a hard
copy in class and post an electronic copy in Sakai>
Assignments. If you do quiz with someone else, submit only one
hard copy but upload separately in Sakai.
Length: 2-3 pp. Single space. Double-sided is OK. You are
encouraged to attach images. They do not count towards the
minimum amount of pages. Please consult external references
to back up or confirm historical or political facts, and consider
the use of one or more maps.
· Make sure your answers are 1) well organized; 2) carefully
proofread; 3) well argued for (with claims and evidence); and 4)
cogent. Always re-read final draft to make sure you have
addressed the questions asked.
· Be sure to cite, quote and paraphrase the textbook in a
substantial manner (i.e., you need to demonstrate deep
familiarity with the chapter’s content)
· Always re-read questions and final draft (aloud) to make sure
you have addressed the questions asked.
· In order to answer this quiz you need to use and cite Chs. 4-5
from Sorrells (2013), as well as one of the films listed below.
· Use external sources to support your answers, and include a
reference list.
· Provide a brief synopsis of the film and basic data (director,
date of release, country of origin, actors, producers)
· Provide strong introductory and conclusion paragraphs
· Consider using stills from the film chosen.

2. Question: Using one the films listed below, please define,
explain and apply four of the following clusters of concepts:
· Ascribed and avowed identity
· Cultural Spaces ( contested, hybrid, or segregated )
· Waves of immigration (first, second, third) and world systems
theory
· Stages of adaptation (anticipation, shock and adjustment; and
re-entry)
· Migrant-Host modes of relationship ( Assimilation,
Separation, Marginalization, Integration)
· Migrant networks and Social capital.
Feature Films: Maria Full of Grace, Persepolis.
Documentary: Which way home.
Now Anyone Can Invest in Startups—if They Have the Stomach
for It
When Oculus VR sold to Facebook for $2 billion in 2014, some
asked: What if the people who backed the virtual-reality startup
two years earlier on the crowdfunding site Kickstarter had
received shares instead of T-shirts or VR headsets?
They might have seen $100 turn into $14,000, says Richard
Swart, chief strategy officer of NextGen Crowdfunding.
Until the past year or two, the Oculus approach to crowdfunding
was the only one available to everyday investors who aren’t
wealthy. Federal law prohibited Kickstarter and similar
platforms from offering shares to backers, so startups doled out
merchandise or other perks instead.
But the Securities and Exchange Commission recently finalized
rules based on the 2012 Jumpstart Our Business Startups
(JOBS) Act, creating an opportunity for so-called equity

3. crowdfunding, which companies like Mr. Swart’s are eager to
promote.
An Oculus-like success story is what the equity crowdfunding
industry needs in order to take off, proponents say. However,
most of the deals investors are buying into so far suggest such
an outcome is unlikely anytime soon.
Worse, it seems as though many investors will be unlikely to
see any return on their investments at all: Some companies
appear to be using this funding mechanism as a last resort,
having been passed over by professional investors.
Last week, Ronco Brands—the company founded by Ron Popeil,
of Veg-o-Matic and Pocket Fisherman fame—announced its
intention to file for what is colloquially known as a “mini IPO.”
Permitted since June 2015, these are public offerings of tradable
stock, but the companies can raise only up to $50 million.
Ronco has 22 employees, $17 million in debt, 2015 revenue of
$9 million and auditors who have “raised substantial doubt” in
securities filings about whether the company can continue to
operate. Ronco’s chief executive says the company needs to
acquire enough capital to leverage its half-century-old brand
and grow.
Then there’s video-streaming site VidAngel, designed to allow
viewers to skip objectionable content in Hollywood films. The
company raised more than $10 million from 7,554 customers in
December 2016. The mini IPO was pitched as a way to fund
VidAngel’s legal battle with movie studios that say the
company is illegally streaming their movies. Soon after the
fundraising round closed, a district court judge issued an
injunction to shut down VidAngel’s streaming of studio films.
Meanwhile, the company is developing original content such as
“family friendly” stand-up comedy.
Or take Elio Motors , maker of a three-wheel car and the first

4. company to launch a mini IPO under the new rules, in
November 2015. The company probably couldn’t have survived
without the $16.9 million it raised through equity
crowdfunding, founder and CEO Paul Elio says. It has helped
open doors to bankers and traditional sources of private equity,
he adds. None of them has committed to the additional $300
million the company says it needs to start production, however.
One of the highest-funded projects in Kickstarter history is The
Coolest Cooler, which has raised more than $13 million on the
site. Then it attempted in March 2016 to raise equity
crowdfunding via the site CircleUp from accredited investors,
or those with more than $200,000 in income or net worth of at
least $1 million. This led to negative press, and the listing was
pulled. The Coolest Cooler “weren’t a fit for our platform,” a
CircleUp spokeswoman said. The startup, which didn’t respond
to requests for comment, still hasn’t shipped coolers to all of its
Kickstarter backers.
Mini IPOs are allowed by the JOBS Act’s Regulation A+:
Participants can raise up to $50 million, and the stock is
immediately tradable. Another part of the JOBS Act, Regulation
CF (for “crowdfunding”), allows companies to sell up to $1
million in shares which must be held for at least 12 months.
These smaller offerings, possible since May 2016, are
increasingly used by early-stage startups, often in combination
with product preorders.
Darren Marble, CEO of CrowdfundX, which markets equity
crowdfunding deals including Elio’s mini IPO, says he is
worried about many of these offerings. “We probably reject
90% or 95% of the deals directed to us,” he says. “I think the
vast majority of [companies] choosing [mini IPOs] are
inherently poor fits for this regulation.”
Both sets of rules allow anyone, regardless of income, to invest.
But Regulation CF has very stringent caps on the size of the

5. investments, segmented by investors whose net worth or income
is less than $100,000, and those whose income or net worth is
higher. For Regulation A+, the cap is 10% of a person’s net
worth or income, whichever is greater.
“It’s very early,” says Slava Rubin, cofounder and chief
business officer of crowdfunding site Indiegogo. Through a
partnership with equity-crowdfunding platform MicroVentures,
Indiegogo has been offering shares for less than a year.
To date, 11 equity-based projects have been fully funded,
including an at-home beer-tap startup called Fizzics, a smart
connected ball from Play Impossible, a movie called “The Field
Guide to Evil” and a food truck that serves “seasonal” grilled-
cheese sandwiches. The average investment on Indiegogo’s
equity platform is over $500, Mr. Rubin says.
The SEC has been careful—some critics say excessively
careful—in crafting investor-protecting regulations around
equity crowdfunding. But the fact that the rules are looser than
conventional IPO regulations means there will be fraud, says
Josh Brown, CEO of financial planning firm Ritholtz Wealth
Management.
“I’m not against [these rules],” Mr. Brown says. “The problem
is some [investors] are going to get f—ed. Without a doubt.”
Some Wall Street traders, he adds, call the JOBS Act the “Just
Open Bucket Shops” Act, a reference to the fraudulent
brokerage firms whose high-pressure sales tactics were in part
responsible for the stock market crash of 1929 and the
formation of the SEC.
It’s clear that the original intention of the JOBS Act—to
encourage formation and growth of new businesses in a world in
which the stock market is actually shrinking—was a good one.
What isn’t yet clear, and won’t be clear for some time, is
whether everyday investors will be savvy enough to sort the

6. good deals from the bad.
The government shouldn’t “set loose a new generation of
wolves of Wall Street who can sell people stories and a dream
and leave people holding the bag,” Mr. Brown says.
Write to Christopher Mims at [email protected]