I talked to some startup CEOs back in those days and was amazed at how naïve they were about the implications of what they were doing. They tended to believe th

I talked to some startup CEOs back in those days and was amazed at how naïve they were about the implications of what they were doing. They tended to believe that a) Having cool technology was enough to get rich; b) An ICO was a quick way to raise big money without government "interference" because the tech was so new that it was not covered under existing laws or regulations; c) They didn't really need a great product, they just needed to make it look good until being acquired. I also noticed that when I told them their assumptions were faulty, they stopped paying any attention. It seems likely that most of these people are now either in jail, or working (unless recently laid off) as marketing flaks at some tech company other than their own. The lessons have, for some of us, been hard learned. But people do learn.