Re:Investor revolt and legal dispute delay Filecoin plans
by shakezula on Tuesday August 18, 2020 @01:22PM
(#24201435)
There's a good argument to be made that the money made it slower. They hired a TON of engineers at once and after looking at their code, you can tell it's a too-many-cooks situation.
Raising huge amounts of money certainly was the goal but that doesn't mean it couldn't have detrimental effects past their bank accounts.
I wouldn't assume the money was the cause of the slowdown.
More likely, raising huge amounts of money was the goal in the first place.
From the article:
> But multiple sources say that a large percentage of those tokens had been unilaterally distributed by CEO Juan Batiz-Benet to himself and early employees for less than a penny each, and that he has continued to make such distributions in the years since.
> Sources also say that no tokens were distributed to shareholders and that it often was difficult to get questions answered.