Crowdfunding, ICOs and the new world of early-stage finance
Venture capital, and the way growth businesses are financed, hardly changed at all for 60 years. Then, in the last decade, the whole system has been upended. First came rewards crowdfunding, then equity crowdfunding, and now ICOs. What are these "democratised" approaches to financing, how do they differ from each other, and are they ephemeral fads or part of the firmament?