--- title: "Are Syndicates the Killer App of Equity Crowdfunding?" authors: ["Christian Catalini", "Ajay Agrawal", "Avi Goldfarb"] venue: "California Management Review" year: 2016 area: entrepreneurship featured: false links: pdf: "/s/Are-Syndicates-the-Killer-App-of-Equity-Crowdfunding.pdf" preview: "/images/papers/are-syndicates-the-killer-app-of-equity-crowdfunding.png" abstract: "Equity crowdfunding promised disintermediation, but equity contracts amplify information asymmetry and moral hazard. This article examines online syndicates — a professional lead investing alongside a backing crowd — as a market-design answer that returns evaluation to those best placed to do it while keeping access broad." --- [Download the paper](/s/Are-Syndicates-the-Killer-App-of-Equity-Crowdfunding.pdf)