Just read Captain Beef’s new piece on the broken promise of ICMs and my brain’s still spinning. 100M in revenue but a 3.8M market cap? Tokens with zero claim on the actual business? Absolute madness. Meanwhile you’ve got @believeapp, @pasternak, @heavendex all running the same broken playbook. My take: ICMs promised open markets; we got Vegas. Tokens ≠ businesses — VIVA ~100M rev vs ~3.8M mcap. What I want next: tie tokens to cash flows + on-chain metrics, give retail legal early access, and reward holding. Let everyone be their own VC. If you care about where ICMs should be headed, Capt Beef is the guy to follow. This Article’s a must-read.(CyrilXBT)