Blockchain is one of the hottest topics in the business world right now. But venture capitalist Carter Reum, author of “Shortcut Your Startup”, warns against turning to crypto in an attempt to make easy money.
“Anyone smart knows that the blockchain is here to stay, and can be very disruptive,” he said. “[But] I think too many people think, ‘I’m going to buy it for X and sell it for X, and I’ll be rich.’ Or ‘I’m going to buy a mining machine.’”
“My Lyft driver told me the other day that he bought a mining machine. That’s pretty scary.”
Reum, co-founder of investment firm M13, has invested in over 130 companies such as SpaceX, Pinterest, and Slack. He says that entrepreneurs looking for affordable or new investments should consider looking into companies “coming out of the gate.”
“What’s exciting is that you’re about to have a lot of great tech IPOs, I think over the next 18 to 24 months,” he said. “So consumers will get exposure to companies like Pinterest, like Lyft, which they previously didn’t have exposure to.”
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