That's true, but I think something like SAFE is very different from crowdfunding for equity (and much more risky and misnamed, it can be neither simple nor safe

That's true, but I think something like SAFE is very different from crowdfunding for equity (and much more risky and misnamed, it can be neither simple nor safe). That intersection you mention will be an interesting place in the time to come. I don't think we've found the sweet spot between "only professionals can invest", "the retail investors take on huge risks and aren't aware because of wild models with strange names" and "the company can't raise medium amounts because the regulation surrounding the process would cost much more than they would get", but I'm sure somebody is working on it.