My point being, the OP lists four methods by which he thinks crowdfunding can work (pre-order plus reward, equity, debt, and donation). Each method has its own

My point being, the OP lists four methods by which he thinks crowdfunding can work (pre-order plus reward, equity, debt, and donation). Each method has its own set of concerns for regulatory issues, requirements for qualified investors, upside potential, tax implications, etc. My point is that there may be other possible options, and I point to Safe as a good example of how VC can innovate and remove friction from raising startup capital.