Indeed, ICOs offer a great alternative for entrepreneurs: the opportunity to be snubbing VC. If I can raise money through an ICO without diluting, why would I

Indeed, ICOs offer a great alternative for entrepreneurs: the opportunity to be snubbing VC. If I can raise money through an ICO without diluting, why would I waste my time with VCs and their beauty contests? This is the new third way: bootstrap using your own money, they scale up with ICOs. I am not surprised the VC-funded startup world is so hostile to cryptocurrencies and ICOs: it is competition. It means a future where entrepreneurs can opt-out of VC and IPOs. That would be bad to the bottomline: no more preferred stocks with liquidation preferences! ICOs are in their infancies, so there are a lot of scam, but the market will eventually evolve solutions like smart contracts (or just reputation!). If I was in VC, I would start worrying or lobbying for special treatment - like expending the "investor status" to cover IPOs.