> At the same time, it could mean working, for the first time, with investors who are not “accredited,” meaning high-net-worth investors — an idea that appeals to Altman.
I guess he sees blockchains as a vehicle to getting the regulatory framework he wants for securities, and (I assume) doesn't feel he can get for traditional stock.
> Added Altman of the appeal of ICOs in particular, “People are watching their friends get really rich and it’s making them [frustrated and wanting to get rich, too].”
> “One of the trends that bothers me about Silicon Valley,” he continued, is that “more and more of the wealth creation here is not available to most people, and I think that’s very bad in a society with already so much wealth inequality. If there’s a way that new technology can make it practical and possible to democratize this, I think that’d be great.”
I mean, he just said he recognizes it's a bubble. Doesn't a bubble usually suggest wealth transfer instead of creation? Of course it's frustrating to not get in on that money. It's even more frustrating when you see the situation as ethically gray, and here's Sam signaling that YC should jump on board.