True, but it's very different than an investment. They're holding your money in trust. And significantly, no purchase has taken place. You haven't traded your m

True, but it's very different than an investment. They're holding your money in trust. And significantly, no purchase has taken place. You haven't traded your money for equity. You haven't traded your money for anything at all. Thus, it is still your money legally. That's not at all true when you buy equity in a company. When you do that, the company really does own the money you give them, and they're free to do what they want with it. In exchange for transferring ownership of your money, you get equity.