Title I created the emerging growth company, allowing a first-time issuer to file its form-s-1 confidentially, present two years of audited financials instead of three, and defer the auditor attestation on internal controls. Almost every modern US IPO uses this path.
Title II permitted general solicitation in Rule 506(c) offerings provided every purchaser is a verified accredited-investor, which legitimised public advertising of private deals. Title III created regulation crowdfunding with annual investor caps and a funding portal regime.
For investors the trade-off is less pre-IPO disclosure history and more advertised private offerings. Scaled disclosure is legal, but it does mean thinner comparability when reading a young issuer's prospectus.
Related: form-s-1, prospectus, accredited-investor, private-placement-regulation-d, securities-act-1933