Nobody is on a level playing field, nor should they be.

> and ours carry both higher risks and more onerous terms

Can you speak to your experience in investing? I’ve invested in both public and private market deals. There’s nothing safer in my mind than low-cost index funds which are as accessible as running water for all Americans. $1 and a Robinhood account or something are all you need. Granted you can get higher returns of course in private markets but to suggest in general that they are both less risky and higher returning sounds inaccurate to me.

I’m not trying to discredit your underlying point, the ultra wealthy do have access to better terms. They have more capital to deploy - it provides similar scaling discounts to other volume-based businesses.