News for hackers. Stuff that matters.

A comment on U.S. Startups Fail to Attract Expected Crowd of Small Investors. Parent comment

Re:U.S. Startups Fail to Attract Expected Crowd of Small Inv... by mljoe on Friday May 19, 2017 @04:28PM (#14379071)
That makes sense and all, but the definition of accredited investor is tied to net worth and not knowledge. Which means that maybe you can't scam poor people, but there are plenty of gullible rich people with net worth over the $2 million in liquid assets or whatever it is these days.

Maybe treat being an accredited investor like a driver license and not tie it to your net worth?

[ Parent | on HN ]
Re:U.S. Startups Fail to Attract Expected Crowd of Small Inv... by Frondo on Friday May 19, 2017 @05:15PM (#14379409)
The difference is that when a millionaire loses $100k, they're not going to feel it the way someone who's taken out a second mortgage would.
[ Parent | on HN ]
Re:U.S. Startups Fail to Attract Expected Crowd of Small Inv... by notahacker on Friday May 19, 2017 @04:52PM (#14379265)
Much easier to develop a roughly accurate heuristic for assessing people's ability to afford to misjudge risk or liquidity than to develop a roughly accurate heuristic for assessing their ability not to make such misjudgements.
[ Parent | on HN ]
Re:U.S. Startups Fail to Attract Expected Crowd of Small Inv... by Qub3d on Friday May 19, 2017 @05:17PM (#14379422)
How about a terms-based knowledge test, like getting a driver's license? The US loves standardized testing!
[ Parent | on HN ]
Re:U.S. Startups Fail to Attract Expected Crowd of Small Inv... by lazyasciiart on Friday May 19, 2017 @07:07PM (#14379994)
Driver testing is run at the state level. The US hates federal organization.
[ Parent | on HN ]