What about all those legitimate startups that raised money from ICO's???
Here on Hacker News we had a staunch defender of ICO's, who was saying "ICO's of some form are unquestionably the future of raising capital for most tech companies up to a certain size".
>May I ask what the largest/most successful "traditional" tech company that used an ICO is? By "traditional" I mean that their tech has nothing to do with blockchains and they could have also just raised money on angellist, and today are just a normal tech company shipping some kind of a product, like a hoverboard.
>This is early days, very early days. Give it a few years, and people won't bat an eye at raising capital via the blockchain. It's just more efficient and easier. I mean, if you like having to travel around, having tons of meetings and discussions, hoping your lead investor doesn't pull out and fuck up the whole round, by all means keep supporting the current system. It just is going to change, massively, in the coming years. There will be some sort of place for traditional capital but blockchain capital raising will hit every industry.
If you think about it, that response to my question really says it all.
(Upon my folowup, they did name two software companies.)
I looked at that webpage. About halfway down the page there is a "Latest Media Coverage" section: http://imgur.com/a/pCXCm
I tried to click on the Forbes, TechCrunch, recode, and Adweek links, but actually they're not links; that section is empty. The empty section is included to imply that there has been media coverage by these sources (or any other ones), but it is just an inactive placeholder that uses their greyed-out logos without permission to imply some kind of coverage. Clicking anywhere in that empty section does nothing.
Why does the page include an empty "latest media coverage" section that is completely empty (but includes famous news brand logos)? You and I both know why - it's obvious.
That might be fine for companies that are bootstrapping their own future: "imagine if we had something here." But this is why I didn't ask about such companies, but instead about companies that already have done that bootstrapping.
A lot of money has traded hands in ICO's. Has a single traditional tech startup that is shipping some kind of real product (hoverboard, whatever) totally unrelated to blockchain, been built as a result?
Here on Hacker News we had a staunch defender of ICO's, who was saying "ICO's of some form are unquestionably the future of raising capital for most tech companies up to a certain size".
In response to that wide claim, I asked the following question which I'll quote part of: https://news.ycombinator.com/item?id=15121111
>May I ask what the largest/most successful "traditional" tech company that used an ICO is? By "traditional" I mean that their tech has nothing to do with blockchains and they could have also just raised money on angellist, and today are just a normal tech company shipping some kind of a product, like a hoverboard.
Here was their response which I'll quote: https://news.ycombinator.com/item?id=15121451
>This is early days, very early days. Give it a few years, and people won't bat an eye at raising capital via the blockchain. It's just more efficient and easier. I mean, if you like having to travel around, having tons of meetings and discussions, hoping your lead investor doesn't pull out and fuck up the whole round, by all means keep supporting the current system. It just is going to change, massively, in the coming years. There will be some sort of place for traditional capital but blockchain capital raising will hit every industry.
If you think about it, that response to my question really says it all.
(Upon my folowup, they did name two software companies.)