I’m not opposed to the idea of public investment, people being able to invest money far and wide in the ventures of others. But I certainly agree with you that the system has been massively perverted. However, I don’t think technology can be blamed, it merely highlighted and amplified the systemic flaws.
A big problem, however, is that a paradigm for fair and equitable investment markets would not serve the concentration and consolidation of the personally ultrawealthy at the expense of overall economic health via their giant head-start, and dirty tricks such as market manipulation, so the people and firms with the greatest influence in both the marketplace and the regulatory policy have a vested interest in opposing reforms. As such, I strongly suspect that if reforms ever do actually occur, it will probably only be by the mechanisms of economic and technological evolution. So technology that disrupts entrenched positions is, IMHO, a positive thing, even though it can be unnerving.
