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My idea is that a group of horseplayers should get together and form a company to build a racetrack or buy a distressed one.
Nowadays, you companies can form "microventures" where stock can be issued privately to a large number of small investors.
In the old days, if a company was going to issue stock to more than something like 50 people, the investors had to be "accredited". That meant the investor needed a net worth of something like $2,000,000 or an annual salary of something like $200,000 per year for at least two years in a row.
That all changed when the JOBS Act was passed during the Obama administration. Now it is easier for startup companies to raise cash from a large number of small investors. A person can put in as little as $10 or $100. I think their might be an upper limit, too -- maybe like $10,000,000? Once you get so big you have to register with the SEC.
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