[SetTheorist]

One of the meanings of the word "democratization" is "the action of making something accessible to everyone", which is clearly the sense meant here.

[dizhn]

It has a more broad meaning of sharing like when a factory is dumping waste in a river, they are democratizing pollution. (i.e they get the benefits but everybody pays the cost.)

[warkdarrior]

I believe the phrase is "socialize the risk, privatize the profits". I have never heard used with the word "democratize".