The Google Ventures veteran — who has backed 20 unicorns, including Robinhood, and now runs his own firm, Felicis Ventures — said crypto coins were too speculative for serious investment.
"It's the old adage: Instead of investing in the gold rush in gold, the ones that made all the money were the ones that made the pickaxes and shovels," he said. While other investors were chasing mobile apps such as Zynga, Chan backed mobile developer tools such as Parse, which was bought, about two years after it launched, after raising about $7 million. That was a fast, big return for its investors.
"Everyone on my team thought I was investing in a Tumblr blog for drug-dealer cats," Chan said. They teased him so much that on his last day working for GV, they decorated his office with posters of cats on piles of money from a blog called cashcats.biz.
Making plenty of real money for me 🤣🤣🤣 sounds like someone bought high sold low.
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If you want to protect your money and information stay out of the $hood and off the app.
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Source: CNBC - 🏆 12. / 72 Read more »