Imagine if every Airbnb host had the option of having 5-10% of their earning withheld and used to purchase equity. Imagine if the rankings of your listing

Imagine if every Airbnb host had the option of having 5-10% of their earning withheld and used to purchase equity. Imagine if the rankings of your listing reflected your selection of equity preference... [This is a Thing, not a dystopian speculation.] Crowdfunding with equity can't come soon enough. What do you think IPOs were? Putting aside the craziness of the dotcom boom, this is basically what the public markets were doing 15 years ago. Sarbox fixed some of the dotcom issues and, basically, blew up the sub $1B equity market. As you note, the markets can manage this process provided they receive information, return and risk which are correlated with stage. We don't need a special term for this. We just need the regulatory burdens to be consistent with the levels of societal harm and to prevent faddish uni-portfolios.