alt Hacker NewsPrivate markets is where the wealth is (if you invested at the bottom), as soon as Stripe goes public you're getting dumped on.
Unfortunately you need to be an accredited investor to access these markets.
This is the real gatekeeping here as rich pop stars, actors, sports stars and musicians who aren't versed in tech has more access to investing in these private companies than the academics, students in europe creating the algorithms that power them.
An 11 year old can inherit $100 million and be more "accredited" than you, even though they (may) have no knowledge of the industry, no investing experience and no years of industry experience.
Even if you have knowledge in the tech scene and you know which companies are going to go big in the future, unless you're ultra rich already to qualify as accredited, you're shut out early on.
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If you don't meet the financial requirement ($200K annual income or $1M net worth), you can also qualify as an accredited investor by passing the Series 65 exam and filing a form with the SEC.
So you have to prove that either you can afford to lose some money or you have enough investing knowledge to know what you're getting into. Seems fair.
You need an annual income of $200K to become an accredited investor. If you don't have that, you anyways shouldn't be participating in risky private markets.
If anything they should also restrict options trading, sports gambling, prediction markets etc. to accredited investors.
Something like 20% of American households meet the accredited standard. It isn't some ultra-elite bar.
Stripe being able to find all the capital they need in private markets is the actual indicator of wealth disparity.