Anthony Scaramucci, known as “The Mooch” and founder of SkyBridge, argues that stringent regulations from the Securities and Exchange Commission (SEC) are inadvertently excluding typical American investors from participating in some of the nation’s most innovative companies. This concern comes amidst a broader trend where a growing number of highly successful enterprises are choosing to remain private, limiting public access to their growth potential.
SkyBridge Founder Anthony Scaramucci Calls for SEC Regulatory Streamlining to Enable Broader Public Participation in Private Markets
In September 2025, Anthony Scaramucci voiced his concerns regarding the current regulatory landscape, particularly focusing on the U.S. financial sector. He highlighted that an increasing number of innovative companies, such as Elon Musk's SpaceX and OpenAI, are opting to stay private, thereby creating a barrier for average citizens to invest in these high-growth ventures. Scaramucci emphasized that prevailing regulations deter many firms from pursuing initial public offerings (IPOs), a process that would otherwise allow wider public participation. He draws a parallel with Microsoft's 1986 IPO, which provided early investors with significant wealth-building opportunities. In contrast, today's market sees substantial growth primarily confined to the realms of venture capitalists and private equity firms. Scaramucci advocates for a more accessible investment environment where retail investors can support visionary leaders like Coinbase's Brian Armstrong during their companies' formative growth stages. Addressing these challenges, investment platforms like Robinhood and SoFi have introduced new funds and initiatives aimed at democratizing access to private markets. Robinhood recently launched Fund I, a closed-end fund designed to allow everyday investors to engage with private companies before their IPOs. Similarly, SoFi Technologies Inc., in July of the current year, introduced funds via partnerships with Cashmere, Fundrise, and Liberty Street Advisors, enabling retail investors to buy into companies such as SpaceX, OpenAI, and Epic Games with investments starting from just $10. Last year, Cathie Wood's ARK Invest also made strides in this area with its ARK Venture Fund, providing U.S. self-directed investors, through the SoFi app, the opportunity to invest in a mix of private and public companies, including Musk-led ventures like X and xAI, with an entry point as low as $500.
The debate surrounding investment accessibility underscores a critical tension between regulatory oversight and the democratization of wealth creation. While regulations are crucial for investor protection, their unintended consequence of funneling prosperity into exclusive circles necessitates a reevaluation. The efforts by firms like Robinhood, SoFi, and ARK Invest to bridge this gap are commendable, reflecting a growing industry demand for broader market participation. Ultimately, fostering an environment where both innovation thrives and ordinary individuals can partake in its success requires a balanced approach, perhaps involving modernized regulations that adapt to the evolving landscape of global commerce and technology.