ICOs are a superb new capital raising tool for entrepreneurs. No question. Who would not want to be like to be like Bancor and raise $150m online? Sure we all love the pitching process to Angels and VCs. Haha.
The question is when does this become sustainable? That is when it has to work as well for investors. That is when the post ICO performance matters. This is the same as Post IPO performance. Some investors jump in at IPO (momentum traders). Others wait to see how the company performs (more fundamental long term investors). Some companies only give you a short window to get back in post IPO (think Facebook). Others give a long window (think Lending Club between IPO in December 2014 and historical ATL entry point in May 2016). Others, well they disappeared into the dustbin of history and investors put it down to experience.
I can see anecdotal and individual stories (e.g ETH has been a great success since Aug 2014 for example), but what about others? I can compile the data manually using CoinMarketCap, but that is a drag. Who tracks this?