"Introduction The end is nigh for financial regulation. The financial revolution will not be televised; rather, it will be liked, shared, tweeted, and direct messaged. Data technology, such as "apps" for cellular phones, may prove to be as transformative for investing as the telegraph or even the Internet. But few people understand how these technologies impact investing. This book explores the legal dynamics and ramifications of financial regulations in the digital age and offers readers a detailed, but digestible, account of corporate finance history. It pairs lively narrative with brief applications of economic theory. This provides readers with the historical context and theoretical framework needed to understand the true nature of finance today - and where finance is trending. This book focuses on the impact of technology on investing in regulated markets. Legal regulation is lagging behind technology, leaving ordinary investors and main street entrepreneurs without safe and profitable financial options. This book recommends that "competitive regulation" can improve financial markets. Our story of U.S. corporate finance unfolds in three eras. The first era began with the ratification of the Constitution in the 1790s and ended with the Great Depression in the 1930s. The second era began with the Securities Act of 1933 and ended with the Great Recession of 2007-08. The third era began with the emergence of Bitcoin in 2008 and continues to this day. We are living in the third era of corporate finance. With this timeline in mind, we can see qualities that are particular to each of these eras. The first era is characterized by unbridled capitalism, rugged individualism, and western expansion. In the first era, there were many financial markets across the young nation, but they were relatively disconnected"--