> "While the investors listed above can take care of themselves, unfortunately, invitations to invest were also extended to small-time individual angel investors. Thousands of AngelList members were invited to invest personal checks ranging from $2,000 to $20,000+ via the mailing lists of multiple syndicates."
It's worth noting that any US person investing this way is required to be an accredited investor, which is another way of saying they've proven they can afford to lose that $20k (or whatever they're putting in).
The accredited investor rules in USA seem draconian, but if it weren't for them, we'd be absolutely drowning in fake tech companies taking money from retail investors. (Today those fakes are in crypto, where you can pretend your investment offering is a utility token or maybe a donation to a revolutionary DAO that just happens to issue tradeable crypto-tokens in return, and hide behind pseudonyms to make it harder for SEC to find you eventually.)
It's worth noting that any US person investing this way is required to be an accredited investor, which is another way of saying they've proven they can afford to lose that $20k (or whatever they're putting in).
The accredited investor rules in USA seem draconian, but if it weren't for them, we'd be absolutely drowning in fake tech companies taking money from retail investors. (Today those fakes are in crypto, where you can pretend your investment offering is a utility token or maybe a donation to a revolutionary DAO that just happens to issue tradeable crypto-tokens in return, and hide behind pseudonyms to make it harder for SEC to find you eventually.)