[arcticbull]

This is exactly why the JOBS-act style crowdfunding model doesn't work, and may harm small-time investors. If your business is low-risk, you self-fund or bootstrap. If your business is high-risk but has a decent team you can just raise from a VC. It's only high-risk, low-reward ventures that can't raise from a VC that will seek funding from a boatload of zero-value-add small-time investors.

[blueblisters]

I think this probably falls into a very niche category of high-risk but "I get to brag about owning a piece of piece of broadband infrastructure 8000 kms away" assets. As it stands right now, investors are essentially purchasing novelty, not a risk-assessed financial instrument. It would be cool if they can make this into a legitimate funding model though.

[arcticbull]

IMO (and that's a big IMO), you raise from VCs not just for the working capital but also for the network and the advice. Rando JOBS act investors provide none of that, which means their money is worth a lot less. It creates a really big adverse selection risk for main street investors.