This isn't an accurate assessment or headline. The accurate headline or assessment is "Equity Crowdfunding sites fail to attract legitimate, investment-worthy

This isn't an accurate assessment or headline. The accurate headline or assessment is "Equity Crowdfunding sites fail to attract legitimate, investment-worthy startups"! I've seen the startups posted at the crowdfunding sites and they look terrible / borderline scammy e.g. a site that's not growing and doesn't have much going for it raising at a $25 million valuation. Part of the reason is that there's a big gorilla in the room and it's Kickstarter! If you have a great product, it's better to take it there than to an equity crowdfunding site -- at Kickstarter, you get pre-orders, gauge demand, get actual buyers/users, and don't lose any equity or have those legal complications. It's much better than equity crowdfunding. I also think AngelList should be evaluated as I bet it's enabled a lot of brand new folks to get into angel investing.