It's nice to see the nod to Y-Combinator and the realization that many businesses can be started with much less money today. But there is also another point to realize. Have you noticed how large the barriers to entry are in some industries? Could anyone today really start a bank, an oil company, a car company, etc.?

Some markets (especially in technology) are opening with very low barriers to entry. But some markets are more closed than ever.

There is more to job creation than building the next Twitter. Twitter doesn't work on a schedule. Sri Ganesh's Dosa House and Can't Flush We Rush Plumbers do. The economy can survive without twitter, but without flushing toilets we will quickly find ourselves living in the dark ages.

As for people who lose money to carried interest, yes, some will go back to work at a the same bank they quit from (same pay, better security). Others will just raise management fees, resulting in a net loss of investment. More importantly, there will be a major loss of diversity in investments; as Cuban notes, the guy earning $30mm/year won't be dissuaded from investment, only the guy earning $500k (who could make a similar salary at a bank). This means a smaller amount of the investment strategy search space is explored, and we have fewer Michael Burry's. Is that a good thing?

In the interest of increasing angel investing, why not remove the legal barriers (accredited investing) and bring a whole new class of players in the game?