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Even without the SEC, you would not have been able to invest in Spotify. They had zero interest in taking your money when they could raise money much more easil
by harryh 8y ago
Even without the SEC, you would not have been able to invest in Spotify. They had zero interest in taking your money when they could raise money much more easily from professional investors capable of writing 8 figure checks.
It's very important to understand this and the adverse selection problem that would emerge if laws were changed. There's a reason that only scammers did ICOs.
- hal9000xp 8y ago> only scammers did ICOs This is absolutely incorrect. One of many examples - Tezos.
- harryh 8y agoOh, I probably overstated a little bit. But I'm confident that 90%+ of them were scams. Re: Tezos - "Inside the Crypto World's Biggest Scandal" https://www.wired.com/story/tezos-blockchain-love-story-horror-story/ https://www.wired.com/story/tezos-blockchain-love-story-horr...
- hal9000xp 8y agoI'm aware with situation with Tezos (btw, which had been resolved) because I'm with them from very beginning. That's my whole point. The government tries to protect me because it thinks I'm too stupid. And you tell me that such opportunities for small investors doesn't exist anyway. But opportunities do exist, I just showed. Another example. I watched interview of Revolut founder. He said they sold some of their equity to limited number of small investors for marketing purposes. He said that these early-stage small investors are best advertisers of their products because they are enthusiastic. P.S. Every single time I'm talking about this I swiftly get downvoted. I'm so disappointed by the fact that vast majority of hacker news readers are far-left socialists.
- mindcrime 8y agoThere's still a token handful of us around who believe in individual rights first and foremost. Not many, but we do exist. And we will win in the end because we have better principles. Don't despair.