The current ICO bubble on the Ethereum Network is comparable to the excessive speculative investments seen in IPO's that caused the dot-com bubble to crash in 2001. Similar to the IPO's during the dot-com bubble, an ICO allows token based companies to raise a substantial amount of money without having ever made a profit—or, in some cases, realized any material revenue whatsoever. It will be interesting to see what token based companies can maintain value over the coming years.
