It is a moral hazard to have rules/laws around investing that are based on whether you are rich.

Being rich is not a proxy for being smart. 

(If you disagree with this I invite you to consider whether you think being poor is a proxy for being not smart).

Unlock Protocol founder.
Previously founder at Superfeedr (RSS push API) acquired by Medium!

https://ouvre-boite.com

I agree with the broader point but my guess is that if you're rich you can afford to lose investments more than if you're not.

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The problem is that if you are poor, you cannot afford to NOT get a chance out of poverty thru these investments either.

Keeping "poor" people out of the ability to invest because they could lose so much also keeps them out of the ability to get out of poverty.

(I know about the devil's advocate!)

I think it's actually a very interesting moral question and one that I think we collectively failed to grasp... leading to more inequality, contrary to the expectations.

I agree. Investing, although risky, could be a great vehicle to get out of poverty.

Mostly playing devil's advocate here.