Strangest is how some of these ICO's that managed 100m+ are already going bankrupt by now. How do you spend 100m in a year (not counting the price decrease)
I've witnessed this too. I have met guys at these events that have spent 5-10 million just traveling and attending these things.
Yes if they bring the entire team (dozens of people) or live a luxurious life while traveling. The problem is maybe they don't calculate the budget and use it effectively, they just use it because they have the money.