"Big media" goes to a page where it explains that it's a career total (from opensecrets.org). I initially just added this, but then the Paul Ryan issue came up and the Atlantic Monthly article criticized the lack of data around this issue.
So I put in data from maplight.org - just funds raised specific to this issue.
I worked on a project like this a while back. The heavy regulations eventually broke the whole concept. We had built a system for startups to pitch their businesses, and the investors would have been limited to accredited investors (those with > $1M or who make > $200K/year for two years). They would have bid for startups in a Dutch auction format, like the way Google went public.
However, to do this you need to be not just a startup, but an NASD certified "broker dealer." This imposes a couple things that software startups aren't good at:
1. You need $500K in the bank, just because of regulations. This means you need to raise much more than usual.
2. Several founders/early employees need to study for and pass Series 7 exams, which is what you need if you're a stockbroker. At least one person also needs to study for a similar test for brokerage management. Coding + learning to be a stock brokerage was not easy!
3. The associated legal costs were extremely high.
Kickstarter of course avoids all this by not dealing with any transfer of ownership so they don't need to worry about the government. They just sell access to creative folks, which is a good idea.
PS - Angel investors and VCs hate this concept, which makes it much harder to raise money. We brought it in front of all the biggies and were well connected, and each one argued about the personal value of their involvement, which may or may not be true.
This is the key, and the argument that grandmotherly Italian women will make: it's essential to bring the water back to boiling as soon possible after you put the pasta in. Therefore you need a lot of water so the overall temperature doesn't drop (more important for fresh pasta than dry), and you need to cover the pot too so less heat will escape.
Italian grandmothers who make the best pasta would hate this article.
I'm working on a similar business plan right now, and am having the same difficulty. Our software solves a problem and I believe we can get a lot of users, but despite adding in ad revenue and a vague "enterprise edition," the numbers just don't add up into something attractive.
Is it best to be honest about this, or beef up the numbers?