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> What life choices did you make to be able to have access to private equity markets but also go to month-long festivals? Some entrepreneurial things worked ou

> What life choices did you make to be able to have access to private equity markets but also go to month-long festivals? Some entrepreneurial things worked out, some speculative things worked out, they're not mutually exclusive to me. (When I do an entrepreneurial thing, I think of the shares I create as being part of my portfolio just like shares I bought from someone else. Its the same buy low, sell high mentality to me. Pocketing some/alot of the revenue is an option as well, if there is any revenue, ha.) Also, turns out accredited investor status (and similar wealth thresholds for financial products) are "self-certifications", which is a euphemism for lying. Took me longer than it should have to catch on to that. The only exception being a Reg D 506(c) offerings, which require proof of accredited investor status. It also took me a while to understand that the consequence isn't on the individual, its on the person selling shares. And they want your money, they just need to check a box. The government says "you can check that box, if they say so". So, no sanction on them as long as they ask (for the most part), and you don't act like a poor person scrounging around for the money you said you had. Maybe one of those private investments hit, and never look back. Better than wasting 4-8 years of your life being paid in lottery tickets across a handful of companies, lottery tickets that have worse odds than the investors of the same company have purchased.

h-w 4y ago
Do you have two million liquid bucks or not?
- astrange 4y ago
  You don’t need that if you earn $200k a year, have two kinds of stockbroker licenses, or are good at lying. I signed up for some accredited investor sites after passing via the income rule and was kind of annoyed that it just causes people to call you who expect you to have $50k to invest like it’s pocket change.
- vmception 4y ago
  The first time I passed accreditation, I created a crypto token with a super high supply and sold one, this affected some applications to extrapolate the value of my holdings. A lawyer looked at it and made the attestation that I was accredited and I was able to participate in a couple offerings over the next few months. (Lawyer verified onchain as well) The second time was after some professional and speculative successes, and I realized that people expected me to be accredited. That was nice. So I “self certified” that I was accredited and got to participate in the rounds. No need to bother with extremely low float assets, although still an option. All subsequent times I continued to self certify regardless of the economic reality, periodically it’s above the threshold in pure liquid assets, otherwise it was a stretch of the imagination and pure financial engineering. There are also much higher monetary thresholds like “qualified investor”. Everything higher is also a self certification. Its a dumb caste system so I have dumb solutions for it, its super effective. I took it waaay too seriously when I was younger, I just didn’t know the consequences and expected to be treated as a joke by super serious people, turns out nobody cares and capital games are all casual entertainment to the wealthy, show up if you’re interested, bring your own capital. You still have to actually have the cash to invest. If you can’t come up with $25k minimum it’s going to be weird.

h-w 4y ago

Do you have two million liquid bucks or not?

astrange 4y ago
You don’t need that if you earn $200k a year, have two kinds of stockbroker licenses, or are good at lying. I signed up for some accredited investor sites after passing via the income rule and was kind of annoyed that it just causes people to call you who expect you to have $50k to invest like it’s pocket change.
vmception 4y ago
The first time I passed accreditation, I created a crypto token with a super high supply and sold one, this affected some applications to extrapolate the value of my holdings. A lawyer looked at it and made the attestation that I was accredited and I was able to participate in a couple offerings over the next few months. (Lawyer verified onchain as well) The second time was after some professional and speculative successes, and I realized that people expected me to be accredited. That was nice. So I “self certified” that I was accredited and got to participate in the rounds. No need to bother with extremely low float assets, although still an option. All subsequent times I continued to self certify regardless of the economic reality, periodically it’s above the threshold in pure liquid assets, otherwise it was a stretch of the imagination and pure financial engineering. There are also much higher monetary thresholds like “qualified investor”. Everything higher is also a self certification. Its a dumb caste system so I have dumb solutions for it, its super effective. I took it waaay too seriously when I was younger, I just didn’t know the consequences and expected to be treated as a joke by super serious people, turns out nobody cares and capital games are all casual entertainment to the wealthy, show up if you’re interested, bring your own capital. You still have to actually have the cash to invest. If you can’t come up with $25k minimum it’s going to be weird.