I think people should be very careful with the meaning of accredited investor. The author says that raising at a $5M cap and owning 30%+ makes you an accredited

I think people should be very careful with the meaning of accredited investor. The author says that raising at a $5M cap and owning 30%+ makes you an accredited investor. You could easily get into trouble with the SEC if someone claims to be an accredited investor because they raised $5,000 at a $5M cap and then decide to give you $1,000. Depending on the exemption, you can still get 35 sophisticated but not accredited investors. I don't recommend playing games with the SEC though because you want to be technically "accredited" and I wouldn't take $1 from someone comfortable playing this game.