It is a valid strategy to invest a small amount into a lot of ICOs, hoping that a few will rise very high and therefore make up for the loss of the rest. That's

It is a valid strategy to invest a small amount into a lot of ICOs, hoping that a few will rise very high and therefore make up for the loss of the rest. That's actually more or less what many VCs do, after all. As long as the majority of ICOs is honest, the occasional scam doesn't make much of a difference with that strategy. Investing a lot of money just into one or only a few ICOs is insane, of course.