This is absolutely incorrect. One of many examples - Tezos.
Re: Tezos - "Inside the Crypto World's Biggest Scandal"
https://www.wired.com/story/tezos-blockchain-love-story-horr...
That's my whole point. The government tries to protect me because it thinks I'm too stupid. And you tell me that such opportunities for small investors doesn't exist anyway.
But opportunities do exist, I just showed.
Another example. I watched interview of Revolut founder. He said they sold some of their equity to limited number of small investors for marketing purposes. He said that these early-stage small investors are best advertisers of their products because they are enthusiastic.
P.S. Every single time I'm talking about this I swiftly get downvoted. I'm so disappointed by the fact that vast majority of hacker news readers are far-left socialists.
It's very important to understand this and the adverse selection problem that would emerge if laws were changed. There's a reason that only scammers did ICOs.