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Investors in all early stage securities know that bad news always comes before the good, meaning that firms who go out of business tend to do so faster than the firms that have exit events and provide returns to investors, if investors are educated about investing in early stage companies, and have diversified their investments, they can and should ride out the inevitable failure of some firms. However, most investors fear loss more than they appreciate gains and it will take time for the market to learn what the cycle of returns looks like for this form of equity crowdfunding investing.