Can a $310M startup avoid due diligence?
<i>&gt; &quot;While the investors listed above can take care of themselves, unfortunately, invitations to invest were also extended to small-time individual angel investors. Thousands of AngelList members were invited to invest personal checks ranging from $2,000 to $20,000+ via the mailing lists of multiple syndicates.&quot;</i><p>It&#x27;s worth noting that any US person investing this way is required to be an accredited investor, which is another way of saying they&#x27;ve proven they can afford to lose that $20k (or whatever they&#x27;re putting in).<p>The accredited investor rules in USA seem draconian, but if it weren&#x27;t for them, we&#x27;d be absolutely drowning in fake tech companies taking money from retail investors. (Today those fakes are in crypto, where you can pretend your investment offering is a utility token or maybe a donation to a revolutionary DAO that just happens to issue tradeable crypto-tokens in return, and hide behind pseudonyms to make it harder for SEC to find you eventually.)