Startups as investments are very risky with long payoff horizons. With their limited funds, this is a poor investment for the average investor. I can't help but feel like this will hurt more people then it will help.
"SAFE holders do not have any voting or information rights".
With this kind of agreement, it's basically gambling since most info on start-ups is basically PR fluff. At least public companies have to publish annual reports and real investors get information rights.
They're not great for institutional investors either: http://www.bloomberg.com/news/articles/2016-08-10/venture-ca...