Noun 839
@ccarella.eth
What was bad about ICOs? How could they be done better?
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links 🏴
@links
ICOs have the same problems as unregulated IPOs - fraud, speculation, and the impact on society/financial markets. Unregulated stocks gave us The Great Depression. For every legitimate builder who could use an ICO to fundraise, there are dozens who are predatory and using FOMO to steal money. As a founder, I do think they'd be a great tool to fundraise, but to be done better we probably need to change our entire culture ;). Avoiding FOMO, not promising economic rewards, etc
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Noun 839
@ccarella.eth
One weird thing to me is they were often launched before even having a product demo. That might be fine for angel funding but when raising a huge sum or actually IPO'ing there is already a lot of traction.
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