Regulations and outcomes...
Today TinySeed posted an essay outlining how SEC regulations favor incumbent investors and fund managers [https://tinyseed.com/latest/99-investor-problem]. I suggest reading it if you're at all interested in investing or the structure of our society.
I think it raises a larger question: what outcomes do we want our government to encourage (or discourage). Do we want existing investors and funds to have an additional advantage (they already have more money and influence) over rising stars? What are the tradeoffs if we loosen regulations?
I think most folks overestimate the risks of investing in private companies or VC. Yes, these kinds of investments are significantly more risky than buying an S&P 500 index fund or Apple stock. Caveat emptor. In my opinion, they're generally not riskier than short selling stock or buying stock on margin -- something which almost anyone can do. Don't get me started on crypto "currency."
Don't you think that we now have the technology to help regulators protect investors while still enabling new people to get involved?