Yeah that's what I was thinking as well! Giving the mass public the ability to invest in early-stage starts is like opening up Pandora's Box, imo - it just feels too risky to me.

It's a regulated crowdfunding - so there is a fair amount of reporting startups need to do before they can raise and they're limited with how much they can raise from unaccredited.

Thanks for clarifying! However, when I was looking at the startups participating in Demo Day, say this one for example (https://xx.team/stark.therapeutics), there wasn't much of a financial history - which does make sense, given that they're an early-stage startup. So I guess my question is - what are the metrics that are reported during the DD phase in order for these startups to be approved for crowdfunding?

I think it depends on the investment vehicle the startup decides to receive funds through.