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Crowdfunding was supposed to democratize real-estate investing. The bankruptcy of Michael Burry-backed PeerStreet reveals flaws in the business model.

El segundoUnited statesAdler stachenfeldBraun mincherDoug lyonChristian baleIan ippolitoAndreessen horowitzLaurie selber silversteinJohn mcnellisKirk brettNightingale elie schwartzSean quinnJason frittonPacific fundingExchange commission