You are protecting investors from competition. Harming startups, harming founders, employees and consumers.

That doesn't sound like a very big deal. Average people are suffering actual material harm at the hands of predatory companies and you're worried about startup founders?! "The poor startup founders, they have slightly less of a chance to make even more money!!!" – said no one, ever. This is the saddest argument for removing financial protections I've ever heard. Again, life does not revolve around startups.

You have more sympathy for investors than founders and employees?

Put it up to a vote and the vast majority will do away with these restrictions. The people don't want it. Some people want it, and some people benefit from it. As its usual in economics, those groups are not the same.

"Financial protections" => the government collects a tax to impose a restriction on you, to benefit the richest class.