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Perfect is the enemy of good. Just because we can't block all ways to take advantage of people doesn't mean that we shouldn't block any.
by Arainach 4y ago
Perfect is the enemy of good. Just because we can't block all ways to take advantage of people doesn't mean that we shouldn't block any.
- jliptzin 4y agoYes, it does. Instead of a startup getting its first investment (from a non-accredited investor) which might have gone on to do amazing things, that extra $$ is instead dumped into highly leveraged options, or penny stocks, or shitcoins, or collapsing crypto exchanges, etc. Money goes down the path of least resistance. I would be okay with it if you could also become accredited by taking an exam testing your knowledge of risk tolerance, money management, etc. Otherwise it is just gate keeping. I say this as an accredited investor with several startup investments, by the way.