I can see why startups raising money benefit from an increase in the numberof potential investors and capital. But apart from this, is there a good reason to want to "democratize access to investing,” and open the field to non-accredited investors?
I share the instinctive response to a rule where "only rich people can X" but (1) Are startups such a great investment that unaccredited shlubs are substantially disadvantaged by excluion? (2) Do they have enough (risk tolerant) money to make a difference? (3) Will companies financed these ways be better in some way.
If we assume the bigger fraud-ish problems get solved, what is the big upside?
I can vaguely see an argument for something between kickstarter/patreon & NASDAQ enabling new kinds of things, but is there really something here. To put it more generally, why should people other than Sam Altman agree with him?
I share the instinctive response to a rule where "only rich people can X" but (1) Are startups such a great investment that unaccredited shlubs are substantially disadvantaged by excluion? (2) Do they have enough (risk tolerant) money to make a difference? (3) Will companies financed these ways be better in some way.
If we assume the bigger fraud-ish problems get solved, what is the big upside?
I can vaguely see an argument for something between kickstarter/patreon & NASDAQ enabling new kinds of things, but is there really something here. To put it more generally, why should people other than Sam Altman agree with him?