Except the reporting requirement are cost prohibitive for a company that is seeking seed funding to file an s-1 or a reg—a even.

So us, poor unsophisticated plebs, can’t invest in anything until post IPO. Which seems to be way after the majority of the gains have been captured.

Ironically people are trying to build fully automatic DAOs, such that the use of funds is fully transparent. Effectively baking in the reporting into the organization.