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> They're prevented from investing in the good ones, too. You say that the casino will pay your unlikely winnings, but the thing about casinos is that unless yo
by jakelazaroff 5y ago
> They're prevented from investing in the good ones, too. You say that the casino will pay your unlikely winnings, but the thing about casinos is that unless you actually have an edge, the more you gamble, the more you lose. The vast majority of games have odds that result in the house making a profit over time.
What do you think is the expected return of investing in a private company? I don't have data to back this up, but I'd bet it's negative — especially if you hold common stock, or whatever non-preferred equity retail investors would get.
And if, on top of that, we relaxed the guard rails preventing people from being scammed? I think the odds would be much worse than you'd find in a casino.
- ksdale 5y agoI personally find it less morally repugnant to let people make bad bets on companies than to let people lose their money at slot machines all day.
- jakelazaroff 5y agoSure, you're entitled to that. I find it less morally repugnant to do whatever keeps people from getting scammed.
- ksdale 5y agoI'd also be fine with making casinos illegal, if that's what you're proposing.
- jakelazaroff 5y agoRereading my last comment, it sounds more combative than I meant it to. Sorry about that — didn’t mean to sound as though I was casting judgment on your opinion. Anyway, I’m not proposing anything. I’m fine with the current status quo.
- ksdale 5y agoI really appreciate you saying that, in this day and age of internet discourse, I admire making an effort toward civility.