[brndnmtthws]

Those valuations don't really mean that much. It's simply number_of_coins * price. Saying it's worth $1bn does not mean you can take all of those coins and turn them in for $1bn. If you owned a large portion of the coins and tried to liquidate them at that price, the price would quickly drop.

The ICO funding model is new technology.

[taysic]

When the users buy into the ICOs don't they send ETH or Bitcoin thus giving the founders a currency which is far more stable and less likely to tank?