A fun innovation in financial engineering I saw recently and thought was worth sharing: I am an extremely tiny angel investor, which means I periodically send small checks to startups in return for an equity investment. This has historically been very toilsome for all parties.
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So crowdfunding platforms structurally mostly list deals which sophisticated investors did not crowd into. There's a thesis you can make here that professional investors are so bad at their only job that crowdfunders actually get the good deals. That thesis sounds implausible.
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The bet I am making here is, effectively, "A startup founder could tell a sophisticated VC that they're getting slightly less allocation in an oversubscribed round to get me on their cap table, and the VC would reply 'OK, that makes sense, conceivably there is some value there.'"
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