I (vaguely) remember hearing about the company the first time around, but having read some of the "mission statements", "opportunities" and "white papers" for some of the cryptos and ICOs being launched at the moment, I saw a forum post elsewhere that reminded me of the netJ.com case. The company started as an invoicing and debt collections business but then changed it's name to netJ.com and issued a prospectus which contained this gem: Now, this was 1999 and the company had the words "net" and "dot com" in it's name and "J" is a pretty cool letter (as far as letters of the alphabet go) so despite the fact that it was explicitly stated that they were going to basically sit around and do nothing while the dot com frenzy raged on, the IPO was oversubscribed and the company raised... $110 million. And then the shares increased from 50c at IPO to ~$8.90 at their peak. Now, at the risk of being labeled a grumpy no-coiner, seriously, read some of the white papers out there ("white paper" being the fancy way of saying "wot we reckon, written down") and see if you can figure out what these groups are actually doing and whether "someone will come along and figure out how to make it useful later on" is the sort of thinking that features heavily in the plan. Everyone likes a good technology bubble and it's been a good couple of decades since the last one, but some of the parallels between the dot com era and the crypto era are striking.
