Jason Calacanis, an angel investor of Robinhood and Uber, says nearly all crypto projects are run by ‘delusional’ founders or idiots.
Prominent angel investor and internet entrepreneur Jason Calacanis says 99% of altcoin projects are “gabage” run by unqualified individuals, but holds out hope for the 1% with the power to change the world.
According to a Tweet posted on June 27 by the angel investor behind ridesharing app Uber and crypto trading app Robinhood, nearly all of the crypto projects around the world are under the control of “unqualified idiots” or “grifters” with below-average skills:
Historically, 99% of crypto projects are garbage run by unqualified idiots, delusional but below average founders or grifters… the 1% that are not, could change the world.
I’m waiting for that 1% to deliver their product so I can talk to their customers.
you got customers?
— [email protected] (@Jason) June 27, 2020
However, Calacanis stated that the projects with the most potential lacking these undesirable qualities are what perks his interest: “I’m waiting for that 1% to deliver their product so I can talk to their customers.”
Altcoins performing better than Bitcoin
Cointelegraph reported last week that many DeFi tokens including Aave (LEND) and MakerDAO (MKR) had posted double-digit gains. Many even outperformed Bitcoin (BTC), which dipped below $9,000 more than once.
Calacanis’ views on Bitcoin have changed. In May 2019, he predicted BTC would go to the bears, with the price likely to fall to $500, if not zero. However, during a recent interview with Anthony Pompliano, the entrepreneur said he might be willing to invest up to 3% of his net worth into BTC.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.