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Funny how companies can go bust after getting millions from these token sales. Quite clearly they weren't on Ramen Noodle start up mode. Okay offices need to be
by Theodores 8y ago
Funny how companies can go bust after getting millions from these token sales. Quite clearly they weren't on Ramen Noodle start up mode. Okay offices need to be paid for as do staff but it is not like they had to buy raw materials, build steel foundries, invest in a distribution chain or anything else capital intensive.
If they had been promising to make regular products and didn't ship then there would be front page scandals and outrage on consumer rights TV shows. But nobody cares, cryptocurrency has become a dirty word, normal people reading cryptocurrency stories don't get past the headline as they know the story already.
It will probably take a few years before documentary film makers make sense of the shenanigans that has gone on. There are no good stories though, at least with the dot.com crash you could tell the story through the lens of a company that was there at the time for it to have storytelling value. Shame Tom Wolfe is no longer with us, the crypto experiment needs someone of his character to do the story justice.
- jarym 8y agoThe points you make are valid but I would point out that building and bringing commercial software to market is capital intensive. Good luck building software, testing it, writing documentation, producing a go to market strategy and executing it without a lot of capital.
- empath75 8y agoThe millions they got from token sales were demoninated in cryptocurrency. All of them trying to cash out at once and you see what happened. A run on the bank.
- ErikAugust 8y agoMichael Lewis would be the best candidate.