You don't need to have an MBA, and you don't need to join YC. Given that, most people who don't have an association with a prestige organization will fail. More

You don't need to have an MBA, and you don't need to join YC. Given that, most people who don't have an association with a prestige organization will fail. More than the "most" who will fail even with the association. Major, serious funding rounds would be picky with who they take money from anyway. If accredited investor laws were removed in the USA, competent round seekers would still be looking for people who have the most money, the most industry connection, the most advisory capability. Taking money from every Jack and Jill both doesn't include all of that secondary value, but can be a net negative because you now have people involved at an early stage that are a distraction, and have invested what is likely a larger stake of their personal wealth in your venture, which will have their incentives (safe return, stable financial outlook) not aligning with yours (spend to grow, take risks). ICOs so far have just been an end run around regulation, and we saw an immediate return of all of the dark practices that the regulations are in place for. It democratizes investment for the general population the same way Las Vegas does.