Matthew Erin, ICO, Richard Burton discussed on CRYPTO 101



Yeah, I think you know, we, we have a real problem with that wild west approach. I mean, even earlier in Hugh one of this year, there was a report out that forty six percent of the ICO's from two thousand seventeen had already failed. So for the most part in our fund, we do not invest in ICU house were on a secondary market looking for exchange traded liquid assets. You know, we're taking the Goldilocks approach to to crypto assets were not looking for the ICO latest project. That's gonna give a thousand Bagger. We see that as to risk a, you're too hot. They don't have a. Product built yet. And yet we don't wanna take that passive index approach where we're just buying the top ten crypto assets. You know, we really see that as too cold and not capturing enough of the upside. So our model is that mid cap, Goldilocks approach where we're looking at network value or market cap of crypto assets between one hundred million dollars and two billion dollars, and that's really our our sweet spot. And we think that gives the best risk adjusted returns from the blockchain space, Aaron, Paul, what do you think men like? Look, you have companies that raise one hundred million if they might have been ICO's and they could be liquid now that could be exchanged traded, but they still have no project and they have one hundred million of the investors dollars that they might call contributors do. Do you think that this? I don't think this is wild west anymore. I think that the wild west was there because everybody was greedy. But what we have is a lot of people that did, I would say borderline illegal fundraising practices. What do you think Erin? Well, I'm not. Lawyer. I think that one of the things that excited me about the space is that I had a rare opportunity in time to invest in something. I'm old enough that I remember the dot com bubble. I'm old enough that I remember friends getting into building a website and and I was like, man, I missed that shit. I missed it and I'll be damned if I'm going to miss the next tack, the next wave. And I'd have a little bit in investing before crypto currencies. And when I was talking to my friend, Matthew Erin about getting into investing and you said, hey, man, check this out. And so I did. And I said, wow, this is, you know, 'cause as an investor, you learn at an institutional way as a retail investor, the difference between, oh, you're just a retail investor, and this is an institutional investor and they have access to all the candy, and you have to sit here with, you know, broccoli. Right? You gotta eat your broccoli, I. Yeah. And and so I came in to the space and I said, wow, I get a chance to be like an angel investor and then money's disappearing. Right? And you're, you're sitting there going oldest, decentralized, anarchic kind of thing. You know, the thing that brings people over to not government, ran the people get the run it, and there's bad actors and they take your shit, and they took people shed as a just a normal dude. I ask myself. Yeah, I mean, and you talked a really smart guys like Richard Burton, right? Remember we had Richard Burton on. He said, why are people trying to build rocket ships when I haven't even built a skateboard normally how this works is you get a little bit of money, you better prototype, you build the skateboard then you build a bicycle. You make sure the bicycle works and he put a little motor on it. Call it a motorcycle, and you keep getting more money as you scale. You can have a vision, but you just get a little bit. It as you perform, you know, I guess I kind of feel like what you're saying Matthew as there's there are pitfalls between a decentralized organization in a centralized organization, a centralized organization being all these rules and governance, etc. Etc. In the allure of a decentralized way that anybody can make money. Right. So who's in charge, right? That's a really good point..

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