This seems really great, but the reality is that centuries of market failures can be traced to herds of people making foolish decisions. 2008 has been at least

This seems really great, but the reality is that centuries of market failures can be traced to herds of people making foolish decisions. 2008 has been at least partially attributed to the repeal of Glass-Steagal. You can look at how successful multilevel marketing schemes are even today. Opening this stuff up more is just going to lead to a fragile economy. If those people are actually smarter than the VCs, they can probably find some other way to sustain themselves than ask for $30 million without having anything to show, which shows a lack of imagination. I don't think that filtering by any means is morally correct: people above 18 years should not be disallowed to invest into whatever they want. The main problem is that's never been true and never will be true in any economy which has the smallest amount of oversight, and for good reason.