It's clear that well tuned campaigns with 10-100k seed capital can raise $1M+ for (partially) physical products.

One big question is how that will translate to software businesses. Successful non-game software projects are few and far between. And they raise a lot less [1]. Will JOBS act equity investing change this? I think it will take 4-6 years for a few people to win big with it before there is a bubble-level rush of speculators.

[1] Annecdotal plug: we just had a subscription fitness app crowd funded, but it took a lot of work and the median pledge level is way lower than in most hardware projects: http://www.kickstarter.com/projects/acgourley/bitgym