INSUBCONTINENT EXCLUSIVE:
Startup life is full of quick, lateral thinking
This frothy project led by Bob Bonomo, a former hedge fund guy turned Blockchain guru, features some interesting breakages.Yesterday at
baffling to me and another reporter
The other CM, quicker on the draw, sent this:Fair enough
In fact, crypto needs a product like this to legitimize it with Wall Street
But clearly they were moving so fast that the wheels were falling off.Finally I did the obvious thing: visit the white paper
There we find that the Terminal is being built in conjunction with FactSet, a venerable research company that has seen all the vicissitudes
well on the way to completing its token sale
This is a problem.BCT is not alone
And I spoke to a founder on stage who said he would be very careful with the $80 million they raised for a company designed to raise money
Greed is clouding this market in ways that are at once dangerous and comical.There is precedent for this
In the early days of the Internet and even the frothiest dot-com days you could see the avarice in the eyes of Pets.com and Cisco
executives who knew that big money was just around the corner
great interest over the past few months for a few reasons
First, I understand the hype cycle
Notion Ink Adam, and there is a stink that permeates projects that are, at best, half-baked.I want token sales to thrive as a method to
I want small startups to be able to turn on a spigot previously available to the well-connected and well-heeled
But the exact opposite seems true
to extract cash out of these windfalls
In the end the token sale industry should formalize itself and become as boring as the VC industry
I just hope it survives long enough to get there.
