In April 2012, President Obama signed the Jumpstart Our Business Startups (JOBS) Act, designed to create better access to capital for startups. Many major figures in SIlicon Valley, including AngelList’s Naval Ravikant, helped ensure the law’s passage through tireless lobbying efforts. But what exactly does the law say? And will it really lead to more job creation as its name implies?

It’s hard to predict how effective the JOBS Act will be until at least next month, when the Securities and Exchange Commission (SEC) will regulate the new legislation. (Or so it says. It wouldn’t be the first time the SEC missed a deadline.)

In the meantime, we breakdown the basics of the law in our latest PandoHouse Rock jam. As always, this isn’t designed to be the final word on this subject, and we encourage you to read more:

[Music by Andrew Bean and Zach Thompson, Lyrics by David Holmes, Animation by Craig Newton, Art/Video Direction by Sharon Shattuck]