I've been following the equity crowdfunding sites, and here are a few observations on why it seems disenchanting. 1. A lot of companies seem to be lifestyle an

I've been following the equity crowdfunding sites, and here are a few observations on why it seems disenchanting. 1. A lot of companies seem to be lifestyle and not startups; they don't plan to grow 7% a week. 2. Many companies aren't raising for the first time and are looking for a bridge or 2nd or 3rd seed round. 3. The cap on the notes is way too high. 4. Many sites incentivize by offering T-shirts and other crap. The purpose is investment so the sites should optimize around investment education and not what reward you can get for just a few hundred dollars more. In the end it is going to be hard to even 2x overall investment. I suspect most people will just lose their money.