> Accredited investor laws are disgusting. Personally, I'd much prefer to hold securities, tokens, equities, currency on-chain than via some broker

These are unrelated. You can hold stocks, bonds and commodities in your own name. It’s inconvenient and carries no advantage over owning them in “street name”. But that isn’t an accredited/un-accredited difference.

Sure they aren't related, but they are related to the parent comment which mentions both.

I was just stating that the former is a form of discrimination to restrict opportunity and increase wealth disparity. The latter is just a preference. Both were being discussed in the parent comment.

Most startups fail.

I fail to see the point. Investors manage their risk-reward profile by investing different percentage amounts of their net worth. The measure of how much money you have or make per year is in no way an indicator of how capable you are in assessing these opportunities. The fact that only 3% of Americans can invest in this vehicle that by your admission mostly fail may be an indicator of this (I'll admit it's not causal, I'm just being cheeky).