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I see no problem with that. They can still invest in it in a different account.

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Also this. IRAs and 401ks are given significant tax preferences. Saying you can’t put a small subset (or nothing) of most people’s investment types doesn’t seem like a big deal.

The biggest issue really is the Roth - there’s only so much play you can get in a traditional from private investments. On a Roth there’s a pretty much unlimited ability and incentive to undervalue non-marketable property.

I don’t have a problem with this. While the Theil / Facebook anecdote is a winner, most start ups fail. When I first started my Big4 career in the late 90s, I was working on tax returns for many dot com companies that have long since faded away.

Most investors simply don’t have the investment experience, risk tolerance, or the wealth cushion to handle the losses of investing in start ups.

smart

Agreed

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