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I knew a startup that did something along these lines. Started out as a healthtech startup, decided to have an ETH-based ICO to raise funds, then paused and sat
by siruncledrew 9y ago
I knew a startup that did something along these lines. Started out as a healthtech startup, decided to have an ETH-based ICO to raise funds, then paused and sat on their ETH reserves when the price went up while they "re-evaluated" their startup. Businesses have found that living off hype leads to easier riches than actually working on something.
It's like watching the South Park startup episode in real life.
- bunyabunya 9y agoI am starting to realize that this is more common than I thought. How are they doing now that some of the hype has died down?
- siruncledrew 9y agoThey are still not sure what to do. I think it also messed with the team chemistry. Rather than 5 people working towards a common mission, it become 5 people thinking about cool projects they might like to spend their time on. The cohesion seems weaker, and I wonder how that will impact things when they have to come together on a product to deliver.