Not necessarily. It is absolutely true that most of your investments will lose money. Not the same thing.
Also there are not anywhere near 100K startups that ever reach 20K+ users. There are certainly quite a few that do and then fail, but the actual number is much lower than 100K.
True but usually businesses with 20K customers at least have a monetization plan by then.
Anyway, I prefer to follow the actions and not the words of smart man like yourself... Early mining seem to have a much better odds than buying steem to power up at current prices.
@james-show Did you read arhag's post? There is a monetization plan. The plan is selling access to the network. That will cost significant money in the future, assuming the network is successful and desirable to access, and many people want to access it.
That doesn't make SP a good investment at current prices, but if you really wanted to know you would have to work out models of number of future users, how much their implied payments would be, and then discount back to the present. That's a valid way of doing analysis, not "No Monetization Plan! Stay Away!"