Scams are going to happen. The accredited investor rules have been around long before the internet and all of the tools we can now use to follow up on start up

Scams are going to happen. The accredited investor rules have been around long before the internet and all of the tools we can now use to follow up on start up companies and the people behind them. I am certain that if this bill passes, there will be plenty of services offered to dig up this kind of information and make this kind of due diligence easier and more complete. Sure, grandma and grandpa might be targeted by scammers (not that there is any shortage of Utah based pyramid schemes and other n'er do wells out there doing just that) but there should be /severe/ penalties attached to discourage bad actors. I don't think we should be protecting people from themselves as much as we do as a society, and I really think this is going to be a net positive when all of the wrinkles are ironed out.