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Dave Gillen – Former FS Concierge
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Good summary James. I’d say it’s punting under the guise of investing.
That’s not too much different from traditional startup investments, except the lay person or micro investor has some further disadvantages including lack of due diligence (as you’ve said), and less ability to influence the outcome (via contribution or control).

Also I wonder about the quality of opportunities. Many put out to crowdfunding are perhaps unable to secure funding elsewhere. Or maybe worse they haven’t been through that rigorous process.

But it’s attractive, and sure to be popular (like other forms of gambling).