Brave raises $35M in 1 min with ICO • Hacker News Board

Re: Brave raises $35M in 1 min with ICO

#31

Post by dharma1 » Wed, May 31, 2017, 4:57 PM UTC

Sammi wrote: post #9

the_common_man wrote: post #8

What exactly does this mean? Brave raised $35m? I find that hard to believe but wow if that's true.

And what are these tokens that are mentioned?

https://basicattentiontoken.org/token/index.html

Re: Brave raises $35M in 1 min with ICO

#32

Post by tenaciousDaniel » Wed, May 31, 2017, 4:58 PM UTC

thebiglebrewski wrote: post #25

Lol, nobody understands what really happened here. Myself included! They used some kind of digital currency to purchase shares in an upcoming venture? I'd love to try to explain this to my grandma

I'm a software engineer and I can barely explain it to myself.

Re: Brave raises $35M in 1 min with ICO

#33

Post by dharma1 » Wed, May 31, 2017, 4:58 PM UTC

jdavila90 wrote: post #29

ummjackson wrote: post #4

Ha, the top 100 holders own ~99% of the total token supply. Really poorly executed distribution model: https://etherscan.io/token/tokenholderchart/BAT

how is this any different from raising money from VC firms? The distribution probably isn't any better, but at least everyone has the ability to bet on a company

It's not regulated, and they are not selling equity/shares in the company

Re: Brave raises $35M in 1 min with ICO

#34

Post by chews » Wed, May 31, 2017, 4:59 PM UTC

pacaro wrote: post #12

porter wrote: post #3

You can download the Brave private browser at www.brave.com. The Brave browser automatically disables all ads and tracking when you browse any website. The founder of Brave also created JavaScript.

I think it's ok to name Brendan Eich here. Just saying "[person who] created JavaScript" makes me think "that's either Brendan Eich or someone lying about having created JavaScript" If he's chosen to be the CEO of a company again, then he's also chosen to put his social/political views on equality into the public sphere again.

political/social views? Isn't this an ICO discussion?

Re: Brave raises $35M in 1 min with ICO

#35

Post by jdavila90 » Wed, May 31, 2017, 5:02 PM UTC

dharma1 wrote: post #33

jdavila90 wrote: post #29

Earlier quoted context omitted.

how is this any different from raising money from VC firms? The distribution probably isn't any better, but at least everyone has the ability to bet on a company

It's not regulated, and they are not selling equity/shares in the company

sure, but the idea is the same. You bet on a company and you then sell for a profit.

Re: Brave raises $35M in 1 min with ICO

#36

Post by mayneack » Wed, May 31, 2017, 5:02 PM UTC

edaemon wrote: post #23

What's the incentive for a user to switch to the Brave browser? What advantages does it have over a different browser using ad- and tracker-blocking plugins, especially now that the Brave browser allows ads from these ad providers?

It works well on mobile.

Re: Brave raises $35M in 1 min with ICO

#37

Post by gcp » Wed, May 31, 2017, 5:02 PM UTC

iamacynic wrote: post #28

gcp wrote: post #16

Earlier quoted context omitted.

What's the consequence, though? Brave got $35M, unless Ethereum crashes very soon. Some parties can now set the price for advertising within Brave to whatever they want. If Brave becomes popular, they become rich. If Brave fails, they lost their money.

that asset isn't liquid. who are you going to sell it to? a few of the other 200 people? do they have $35M to spend?

If Brave becomes popular, advertising space in it is worth real money, and the tokens get value.

If.

Re: Brave raises $35M in 1 min with ICO

#38

Post by gcp » Wed, May 31, 2017, 5:03 PM UTC

chews wrote: post #34

pacaro wrote: post #12

Earlier quoted context omitted.

I think it's ok to name Brendan Eich here. Just saying "[person who] created JavaScript" makes me think "that's either Brendan Eich or someone lying about having created JavaScript" If he's chosen to be the CEO of a company again, then he's also chosen to put his social/political views on equality into the public sphere again.

political/social views? Isn't this an ICO discussion?

If only this argument had worked for Mozilla.

Re: Brave raises $35M in 1 min with ICO

#39

Post by pacaro » Wed, May 31, 2017, 5:03 PM UTC

chews wrote: post #34

pacaro wrote: post #12

Earlier quoted context omitted.

I think it's ok to name Brendan Eich here. Just saying "[person who] created JavaScript" makes me think "that's either Brendan Eich or someone lying about having created JavaScript" If he's chosen to be the CEO of a company again, then he's also chosen to put his social/political views on equality into the public sphere again.

political/social views? Isn't this an ICO discussion?

Yup, I was just trying to work out why @porter didn't say Brendan Eich, but used indirection.

Re: Brave raises $35M in 1 min with ICO

#40

Post by seibelj » Wed, May 31, 2017, 5:05 PM UTC

If I was a VC, I would be pooping myself. Quick, get on the phone with your old college buddies at the SEC / IRS, and stop this right now! The whole VC model is going to implode if companies can raise money like this. No equity, no dilution, no kissing ass... MADNESS