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# Summary
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## November 2022 update
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We are adding a brief update to this piece to note the spectacular collapse of one of the world's largest crypto exchanges, FTX, in late 2022. This provides compelling further evidence that a tougher regulatory approach is and always was needed for crypto. Find out more via our [deep dive on the FTX collapse](/notes/post-ftx-collapse.md), and its tragic vindication of our analysis.
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## Claim steel-manned
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### Subclaim 1: A better, easier way to raise money for my venture
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@ -29,10 +34,6 @@ The ability to raise capital outside of the rule of law is not only a good thing
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## Evaluation
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### November 2022 update
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We are adding a brief update to this piece to note the spectacular collapse of one of the world's largest crypto exchanges, FTX, in late 2022. This provides compelling further evidence that a tougher regulatory approach is and always was needed for crypto. Find out more via our [deep dive on the FTX collapse](/notes/post-ftx-collapse.md), and its tragic vindication of our analysis.
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### Subclaim 1: A better, easier way to raise money for my venture
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The smartphone era gives retail investors access to the public equities market with unparalleled levels of simplicity unseen in markets. There’s also a genuine interest in giving retail investors access to private equity investments. But is access to the public equities market appropriate for retail investors?
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@ -168,7 +169,7 @@ According to the SEC, crypto tokens meet the [Howey Test](../concepts/howey-test
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### Deep dives and notes
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* [Deep Dive: Fintech Incrementalism And Responsible Innovation ](/notes/fintech-incrementalism-and-responsible-innovation)
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* [dDep Dive: The FTX Collapse](/notes/post-ftx-collapse.md), and its tragic vindication of our analysis.
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* [Deep Dive: The FTX Collapse](/notes/post-ftx-collapse.md)
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* [Crypto: can these financial perpetual motion machines work?](/notes/financial-perpetual-motion-machine)
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* [Notes on Dan Olson's 'Line Goes Up'](/notes/olson-2022-line-go-up)
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* [Deep Dive: Market Fundamentalism](/notes/market-fundamentalism)
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