James Watt, co-founder of BrewDog, has publicly acknowledged his errors in managing the company, which has led to severe consequences for its small investors. In a LinkedIn post aimed at over 200,000 'equity punks' who had collectively invested £75 million through crowdfunding, Watt expressed regret after the company sold for £33 million, leaving these investors with nothing. This comes on the heels of BrewDog’s sale to Tilray Brands, a US cannabis and drinks company, which has triggered outrage among the investors who felt misled during the investment process.

The root of the investors' grievances appears to stem from the terms surrounding an earlier investment from the private equity firm TSG, which saw Watt and co-founder Martin Dickie cash out with substantial sums—£100 million—while crowdfunding investors were left empty-handed. Watt's admission of mistakes has not only left the investors feeling betrayed, but it also showcases the underlying problems within the crowdfunding model where early investors can be at a severe disadvantage compared to later, wealthier groups.

In addition to the financial fallout for the crowdfunding investors, Watt has expressed sorrow over the impact of the sale on employees, with 484 staff losing their jobs due to the acquisition by Tilray. This situation highlights the precarious nature of startup investments and the risks taken by small, individual investors who often do not receive the same level of protection or return on investment as institutional or corporate entities, contributing to a growing discourse on fairness in investment opportunities.