➤概要
We are living in a golden era of entrepreneurship but financial systems designed to fund that innovation (venture capital) have not evolved in the past 20 – 30 years.
Disadvantage of VC: It can only pour large amount of money into a small number of potential companies.
Presenter believes our ultimate goal with entrepreneurship is to inspire innovation and stimulate more people to build new companies of all sizes.
Thus, the world needs a new way to fund numerous ideas.
→ cryptocurrency
Presenter found existence of Initial Coin Offerings (ICOs)
ICOs: a way for young companies to raise money by issuing a digital currency tied to the value and services that the company provides (similar to shares in a company). It also expands the investor pool.
The idea of utilizing ICOs was to cooperate by putting 10 percent of every companies’ equity into a communal pool that then split into tradable cryptocurrency that investors buy and sell.
This was unprecedented as entrepreneur normally compete rather than cooperate.
It was also beneficial for investors as ICO was not keen to take middleman fees of VC.
It leaded help nearly 30 companies get investment in presenter’s pool.
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