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Easier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when

Easier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when you can manufacture the shovels...

vkou 9y ago
Or write a whitepaper about how you will build a factory that will build factories to manufacture shovels. I'm, ah, seeking investors.
- sebleon 9y ago
  Or building GPU chips that accelerate deep learning algorithms that write white papers about how you will build a factory that will build factories to manufacture shovels. Investors: I’ll accept check, btc, or pepecoin.
- EGreg 9y ago
  A whitepaper for an ICO to raise money for an AI to write whitepapers to raise money in ICO :)
the_stc 9y ago
This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. People give us a hard time because our core team is anonymous (key part of being an extrajurisdictional company). It's a fair criticism! And the most obvious. Bancor had a bunch of smiling faces making up their top team. Does not help investors at all.
- emmab 9y ago
  > This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. Attracting people to invest in your venture who don't actually have a reasonable capability to determine whether it's a good idea is unethical. If the "sexy smart contract tech" is a compromise to convince your investors to invest in your startup which they would already have been interested in that's one thing. But it's unethical to convince them to invest solely on the basis of an aspect of your business plan which you yourself do not believe in.
  - the_stc 9y ago
    Exactly! We do not play that game. We're clear that our app uses traditional tech and isn't some magic dApp fairy dust.

Easier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when you can manufacture the shovels...

vkou 9y ago

Or write a whitepaper about how you will build a factory that will build factories to manufacture shovels. I'm, ah, seeking investors.

sebleon 9y ago
Or building GPU chips that accelerate deep learning algorithms that write white papers about how you will build a factory that will build factories to manufacture shovels. Investors: I’ll accept check, btc, or pepecoin.
EGreg 9y ago
A whitepaper for an ICO to raise money for an AI to write whitepapers to raise money in ICO :)

the_stc 9y ago

This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. People give us a hard time because our core team is anonymous (key part of being an extrajurisdictional company). It's a fair criticism! And the most obvious. Bancor had a bunch of smiling faces making up their top team. Does not help investors at all.

emmab 9y ago
> This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped. Attracting people to invest in your venture who don't actually have a reasonable capability to determine whether it's a good idea is unethical. If the "sexy smart contract tech" is a compromise to convince your investors to invest in your startup which they would already have been interested in that's one thing. But it's unethical to convince them to invest solely on the basis of an aspect of your business plan which you yourself do not believe in.
- the_stc 9y ago
  Exactly! We do not play that game. We're clear that our app uses traditional tech and isn't some magic dApp fairy dust.