January 10, 2020
You ought to relax accredited investor definition.
Currently, only people who are already wealthy can participate in certain markets. This rule implies that wisdom and market skill correlate to asset ownership. Richer people are smarter and more responsible.
We know that's not true.
What of the individuals who are much smarter but don't have the same assets? If the rationale is to stabilize the consumer market so that not too many people go broke, why do we allow poor people to stay their own businesses, over-borrow credit, and the like?
At a minimum, the public needs more transparency and explanation of the current rule, because the prevailing mood is that the current rule is aristocratic - which destabilizes the nation.
Relaxing the definition will help.