[tstyle]

People act under the assumption that the power law is some fundamental property of the universe. But it seems the 10x effect exist partly due to network-effects, and partly due to a minimum barrier requirement for liquidity. It's economically infeasible to support mini-size IPOs because the fixed overhead cost of regulation, auditing, legal work, and underwriting is too high.

With all the stigma associated with ICOs, lower barrier to liquidity may be a good thing overall. The power law phenomenon incentivize entrepreneurs to take excessive risks and force VCs to adopt extreme portfolio management strategies.