One sponsor said we haven't known each other long enough. The other made me upload two years of tax returns

Same week, two conversations, two completely different doors. The first sponsor said their offering only takes investors they already have a relationship with, so they'd put me on a list and talk again in six months. The second sponsor advertises deals openly on social media, and to get into the data room I had to upload documents to a third party service that issued a verification letter about my accreditation. From the outside these look like two different businesses. As I understand the mechanism, one path avoids public advertising and leans on existing relationships, and the other allows open marketing in exchange for the sponsor having to actually verify each investor rather than take a checkbox. Whether either path fits a given raise depends on how the rules apply to that sponsor's specific facts, so that's a securities attorney's call and not mine, and I've read that state notice filings differ from state to state on top of the federal piece. What I'm interested in is what it signals to you as the investor. The relationship-first sponsor made me wait but treated me like a person. The verified sponsor gave me the documents in 48 hours and now a vendor I never chose has my tax returns. One is slow and one is exposed.