It does, but individual investors can already buy leveraged ETFs, buy out-of-the money options, and put all of their money in one stock. In futures markets they

It does, but individual investors can already buy leveraged ETFs, buy out-of-the money options, and put all of their money in one stock. In futures markets they can take even more risk. State governments encourage people to buy lottery tickets. I don't see investing in start-ups should be tightly controlled, given that people are allowed other things that are just as risky and probably have lower expectancy.