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Pretty annoying that it’s illegal for me to invest in any of these newish tech companies.
by aczerepinski 8y ago
Pretty annoying that it’s illegal for me to invest in any of these newish tech companies.
- xseven 8y agoWhy is it illegal? How would you invest in them if it were legal?
- lastofus 8y agoThey are probably referring to not being an accredited investor. https://en.wikipedia.org/wiki/Accredited_investor https://en.wikipedia.org/wiki/Accredited_investor
- aczerepinski 8y agoIndeed. In an era where hot tech companies don't go public until they've eclipsed $20B (if ever!), the accredited investor rule feels like the rich & powerful making sure they can keep all of the best opportunities to themselves.
- gamblor956 8y agoIt's not illegal for you to invest in Stripe. It's simply illegal for Stripe to try and sell you their stock. If you happen to have personal connections to Stripe leadership, and they haven't hit the regulatory shareholder limit (after which they must start filing disclosures with the SEC), you could legally buy all the Stripe stock you could afford.
- woolvalley 8y agoSo the accredited investor requirement doesn't apply in the case you stated?
- gamblor956 8y agoThe accredited investor rules are limits on the company, not the investor. It depends on how many non accredited investors they have.
- marvin 8y agoHave you seen an example of a regular middle-class person actually doing this? Because in all the stories I've heard, company leadership just say "no, you need to be an accredited investor to do that", and that's it.
- gamblor956 8y agoParents and college buddies, mostly. I've never seen anyone who wasn't personally connected to the founders or VCs be allowed to invest if they weren't an accredited investor because it's simply not worth the hassle to the company.
- ayeshakiani 8y agoNo it's not. You can invest on Republic in all newish tech companies. Check on them out: www.republic.co