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Author Topic: ICO evaluation is bad!  (Read 269 times)
CristianOff (OP)
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November 17, 2018, 11:13:09 PM
Merited by Welsh (3), Vod (2), acarli (1)
 #1

Every person that I know who invested in ICOs seems to be always following the same pattern:

If the ICO has well recognised team members, who have LinkedIn, twitter, Facebook and are known in their industry then it's safe to invest.

If the ICO doesn't have a PERCEIVED good team, if the team is made by 'youngsters', people with no industry experience who may have the necessary knowledge then it's not good to invest. 'The project certainly has no chance' says a lot of them.


Could someone tell me why we underrate young people, especially those below 30 years of age? I mean, look at most successful companies:

-Facebook - founded by university students (below 21 years of age)
-Google - founded by Larry Page and Sergery Bin both 25 years old
-Apple - founded by Steve Jobs at 20 years of age, and Steve Wozniak who was 25
-Microsoft - founded by Bill Gates at 20 years of age
-Amazon - founded by Bezos at 30 years old
-eBay - founded by Pierre Omidyar at 28 years old
-Ethereum - founded by a 20 years old Vitalik Buterin
-TRON Foundation - founded by a 28 years old Justin Sun

Should we go further?
-Dolce & Gabbana - founded by Stefano Gabbana at 23 and Domenico Dolce at 27
-Barclays Bank - founded in 1690 by a 21 years old
-Rolex - founded by 2 brothers of 24
-Chanel - founded by Coco Chanel when she was 27
and the list goes on!

The reason we have so many sh*tcoins is because we have some oldies and grandpas who release a token, exchange everything to Ethereum asap and token dies because nobody cares about the project. Where is the dedication? They do not contribute to the vision of the Blockchain and the only reason they exist is because some investors decide to go with them, unvisionary people who call themselves "innovative". Those old guys who are master of manipulation and know what to tell you even if that means lying to change your opinion about them.

Before you throw words, no, I don't have an ICO and I didn't have an ICO. It's just observation. Invest in the young & innovation because they are in grade to build the future for the next generations!
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acarli
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November 18, 2018, 12:17:54 AM
Merited by paxmao (2)
 #2

.....
The reason we have so many sh*tcoins is because we have some oldies and grandpas who release a token, exchange everything to Ethereum asap and token dies because nobody cares about the project.....

Slow down cowboy! I'm 47 and I hope you are not right about this. I've gone to 2 conferences so far. The one in Miami last year opened my eyes to the money grabs of the altcoins/tokens. Out of all of the one's I would consider sh@t coins about half were older gentlemen and the other really young guys. I don't think age has anything to do with greed.

I agree that younger minds have certain advantages. Experience also counts for quite a great deal as well. In this market, you need a multi-disciplined team with a broad range of expertise. The first few tech companies have the advantage of being the first movers. Don't discount us older guys. Experience means more leadership and problem-solving skills. They also have more access to funding.


Here is an article on CNBC about how us older guys can also be successful. They have also argued that older guys/gals can be more successful in starting a company.
https://www.cnbc.com/2018/06/26/research-shows-older-entrepreneurs-more-successful.html

They mention a study that showed the greatest growth of the two you mentioned (Apple and Microsoft) occured when Jobs and Gates were in middle age. Interesting right?





CristianOff (OP)
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November 18, 2018, 01:04:21 AM
Merited by Welsh (2), acarli (1)
 #3

You have a point.

I haven't meant to say that everyone above 30 is responsible for that, but you also partially agree that the characteristics I stated are partially correct.

You provided me with a nice research, I prefer you to read the whole research which, for my point of view is mostly a dissertation (trying to point out why something is not as it is perceived): https://www.kellogg.northwestern.edu/faculty/jones-ben/htm/Age%20and%20High%20Growth%20Entrepreneurship.pdf

Have a read of the full pages and tell me, how many people above the age of 30 have attempted to start a company? How many people of age below 30 attempted to start a company? Our society mostly promotes 'getting a job' and it's normal to have less young successful business owners because it takes them more time to 'get up'.

My point is, more collaboration between the old and the young. Do you feel bad giving a youngster twice their salary and appoint them as a C? It's a risk but why not?

If you know basic NPD (New Product Development) you certainly know that two of the stages are 1) coming up with ideas and 2) selecting the most correct ones. So a youngster may come up with the most stupid ideas when appointed as a C, he is not expert but he 'has the something' that older people don't and that's innovation. It's crazy if you believe young people are not the most innovative (https://www.forbes.com/sites/frederickallen/2011/04/13/are-you-really-more-innovative-when-youre-younger/#4d2658772f62).

We must have the 'older side' on the second stage and the younger side on the first stage. This way, we ensure better projects for humanity.


Having JUST young people in a team is terrible. Having just old people in a team is as bad.
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November 18, 2018, 07:15:28 AM
 #4

The age of ICO team members has nothing to do with the success of ICO. People tend to choose teams of older members, not because they underestimate young people, but because they are cautious.
The reason why people are more optimistic about the experienced team members is because there are too many scams now, a younger team may have a greater chance of being scam, nothing more.
For scams, put some pictures of young people online, you can't easily check if they are fake teams, because they may be "first try".
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November 18, 2018, 08:27:33 AM
 #5

It is trust issue is it not?! The first thing you look for in team members is experience, the portfolio and previous projects they have been a part of. We unconsciously decide to trust someone who has been part of the business world for 20 years over a "new guy" who has no experience and has not worked on any big projects before. More experience doesn't necessarily mean more trust but that is just the way that most people think.

it works the same way in this forum. If you are interested in buying something in the marketplace you would rather trade with an "older" established member of the community who has made many deals already over a newbie who just registered 4 days ago and is offering a service/item that just seems too good to be true. Maybe the newbie can be trusted but maybe he cant. maybe he is even better but nobody is willing to give him a chance. But when it comes to the older member - he has been here for 4 years and completed many deals and your gut feeling is telling you go with the experienced and reputable member - dont gamble with your money.       
CristianOff (OP)
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November 18, 2018, 05:06:11 PM
 #6

I can definitely see your points of view guys! Thanks for sharing
acarli
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November 20, 2018, 10:39:28 PM
 #7

I found two more great examples of entrepreneurs who are "older".

https://www.entrepreneur.com/article/294799

Sam Walton started Walmart at 44 and Charles Flint started IBM at 61.

Also, I remember hearing that Warren Buffet made 80% of his money after the age of 70. Those are not the exact numbers, but very close. So, us "older" guys and gals are still relevant, just in a different way.
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December 28, 2018, 07:04:32 PM
 #8

Invest in the young & innovation because they are in grade to build the future for the next generations!

Yes, you are right there are many people who founded the famous company at a fairly young age, but this is not due only to their age!
The mindset and implementation of their ideas often comes to 40 and 50 years of life.
I also have many examples of successful people who have made their fortune at a later time.:

-Stan Lee created the title "Fantastic four" at the age of 39 and then became rich;

-Gary Hivin-opened his first fitness center in 40 years, then his network has become the fastest growing.

-Vera Wang-the world's leading designer - worked as a figure skater until 40 years and then was a journalist.

-Samuel Jackson before he gained recognition worked, but at 43 years old got my first nagradu for the film "Jurlina fever" and away we go.

-The famous model T which brought him success was created by him in 45 years.

-Jack Carpet-worked as a scientist for almost 50 years until he invented the Taser gun

-Ray KROK-spent most of his life selling dairy products until he was 52 years old and bought McDonald's and turned it into the largest network in the world.

Of course among the young people a lot of talented guys and all of them in most cases in the modern world are developing projects from the field of IT that eventually turn into large corporations, but do not write off the senior development team - even there are many successful people.
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December 28, 2018, 07:13:04 PM
 #9

Older people have more experience. It is more safe investment.
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December 29, 2018, 09:46:16 PM
 #10

Older people have more experience. It is more safe investment.

Here we go again i thought we're might to read replies before commenting. Like other users above have stated age isn't a factor when it comes to investing. You have to change this your school of thought because, it's wrong.
I believe it's said, "the youngs are the leaders of tomorrow" now when investing do you do it for today or tomorrow?  If it's tomorrow then why invest in a start up that might be dead before tomorrow when the young will be the leaders? considering your statement of investing because of age.
 The safest starts up are does that'll stand the test of time and they should be considered first when it comes to investing irrespective of the ages of the founders putting into consideration that smarter minds can always take over the vision of the startup. Invest in the vision not the age.
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January 02, 2019, 05:08:30 PM
 #11

snip..

Before you throw words, no, I don't have an ICO and I didn't have an ICO. It's just observation. Invest in the young & innovation because they are in grade to build the future for the next generations!
I deeply agree with the statement " Invest in the young & innovation because they are in grade to build the future for the next generations!".
You got me there since young people always tend to change the game. It is their common vision as a young. It's likely proving they got something and that's the reason why they are very determined to make that happen. Indeed, it is good to know that people who are motivated to invest without worrying the risk might happen.
Cheers to the young people out there!

Older people have more experience. It is more safe investment.
Nah, that it is not depending on how long you have experienced on investing, we, the young investors have a capability to do so.
Researchful and motivated is one of the best assets of young investors.

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