59:11Startup Investor School Day 4
Andy Bromberg traces early-stage investing from the first venture funds through the rise of angels, seed funds, online fundraising platforms, crowdfunding, SAFEs, and ICOs. He describes three recurring trends: it is getting cheaper to start companies and invest in them, while markets keep pushing toward faster liquidity, with more capital reaching startups over time. He contrasts equity fundraising with token fundraising, explaining how token incentives can coordinate decentralized networks and using Filecoin as an example. He closes by discussing ICO evaluation, regulation, investor lockups, and how venture history can help anticipate changes in emerging markets.