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I'd add the rules around being an accredited investor. The US government cuts off early stage investment opportunities to non-high net worth individuals "for th

I'd add the rules around being an accredited investor. The US government cuts off early stage investment opportunities to non-high net worth individuals "for their own good". The same US government that happily allows for state run lotteries.

vinceguidry 6y ago
This is mostly due to the dangers it poses to old people, who are by and large defenseless against scammers. If you don't put barriers in place to prevent old people from making the choice to throw their nest egg away, bilking old people becomes an industry.
- solosoyokaze 6y ago
  There are plenty of old people buying lottery tickets. All of these justifications are just an excuse to erect artificial barriers around the early stage market (aka where all the upside is). People should be free to spend their money as they see fit, even if that means shoveling it into a campfire.
  - vinceguidry 6y ago
    The lottery isn't a scam, it won't call you at bedtime threatening devastating legal action unless you take care of this very urgent business matter.
    - solosoyokaze 6y ago
      If that's the criteria for scam, investing in GameStop or early stage companies is also not a scam.
      - vinceguidry 6y ago
        No, but the Jordan Belforts of the world very much are.
        solosoyokaze 6y ago
        Fraud and extortion are already illegal. It's totally possible to allow non-accredited investors access to early stage deals and continue to disallow fraud.
mdale 6y ago
At least with the lottery there are odds published and audited... ICOs maybe not so much. That said nothing preventing kick starter for seed rounds with a cut for said audits of at least good faith intent to build business value in some way.
- solosoyokaze 6y ago
  Odds are something that you want with gambling, you can't calculate odds on company success. > That said nothing preventing kick starter for seed rounds with a cut for said audits of at least good faith intent to build business value in some way. To the best of my knowledge accredited investor laws are preventing this.

vinceguidry 6y ago

This is mostly due to the dangers it poses to old people, who are by and large defenseless against scammers. If you don't put barriers in place to prevent old people from making the choice to throw their nest egg away, bilking old people becomes an industry.

solosoyokaze 6y ago
There are plenty of old people buying lottery tickets. All of these justifications are just an excuse to erect artificial barriers around the early stage market (aka where all the upside is). People should be free to spend their money as they see fit, even if that means shoveling it into a campfire.
- vinceguidry 6y ago
  The lottery isn't a scam, it won't call you at bedtime threatening devastating legal action unless you take care of this very urgent business matter.
  - solosoyokaze 6y ago
    If that's the criteria for scam, investing in GameStop or early stage companies is also not a scam.
    - vinceguidry 6y ago
      No, but the Jordan Belforts of the world very much are.
      - solosoyokaze 6y ago
        Fraud and extortion are already illegal. It's totally possible to allow non-accredited investors access to early stage deals and continue to disallow fraud.

mdale 6y ago

At least with the lottery there are odds published and audited... ICOs maybe not so much. That said nothing preventing kick starter for seed rounds with a cut for said audits of at least good faith intent to build business value in some way.

solosoyokaze 6y ago
Odds are something that you want with gambling, you can't calculate odds on company success. > That said nothing preventing kick starter for seed rounds with a cut for said audits of at least good faith intent to build business value in some way. To the best of my knowledge accredited investor laws are preventing this.