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Isn't pouring millions of dollars into new, unproven things the entire premise of venture capitalism? Great risk for great reward. The outrageous investment in
by programmarchy 10y ago
Isn't pouring millions of dollars into new, unproven things the entire premise of venture capitalism? Great risk for great reward.
The outrageous investment in Ethereum/DAO does seem to highlight a desire for governance models outside of the corporatist status quo we live under today, though. Personally, I don't think it's bonkers to yearn for something better. But it's a hope that needs to be tempered with vigilance if people are going to avoid being duped.
- mikeash 10y agoUsually the millions of dollars comes after there's some sort of promise shown. This is basically the equivalent of doing an IPO with nothing but a nice-sounding business plan, and having people shower you with money only to discover that, oops, your real business plan is to take the money and flee to the Cayman Islands with it.