First of all Oculus was selling a tangible physical product.Not sure you understand the process of getting institutional money into a fund.
So let's say you have a fund of 10 million, that doesn't get attention in the institutional investors world. Actually nothing under 300 million gets attention unless you have stellar returns. And even then you better have a highly respectable auditor like E&Y and KPMG doing those audits with 5 years min of returns. Hell institutional money doesn't even fukk with the hedge fund world.
After that they will want a seat at the table and voting rights. Institutional money or old money doesn't come to the table for new ideas. Ask anyone in the hedge fund world.
Second there is nothing wrong with crowdfunding Oculus sold for 2 billion and they did it all crowdfunding.
Second of all Jay morrison is pimping poor people with his minimum $500 buy in. That’s my main issue. He’s selling dreams on top of being an a$$hole about it. Raise that minimum investment threshold and you might gain a little more respect.
Lastly, he should have made it way more exclusive. Now he’s out here lashing out at people who are already struggling but see his flashy off the rack suits and music video like promotional content ...like the audacity of this dude. The temerity. The fukking gall!