Hmmm well I think it goes more like this...
Facebook only received $500,000 in it's first round of funding by the way. The "Rounds" were at least a year apart not a month...
Good point. It's a bit complicated in that traditional fundraising models allow multiple raises with dilution of shares. With a locked cryptoasset, you have the security that no new coins will be issued, but you generally have only one shot to fundraise.
That said, we've just launched a new proposal (
http://blog.swarmcorp.com/2014/06/29/swarm-proposal-1/) to postpone the second round until we have a fully operational product.
This is more line with the
distributed governance whitepaper I released in January, in that it includes multiple rounds and blockchain-based voting.
Keep in mind that the funds for the second round were to fund related coins, not simply to build the product. We also anticipate substantially above average legal fees given the complexity of cryptoequity.
ok now we can continue...
Don't think any of the rest of what you wrote is applicable. Among other things we aren't forcing people to take investment via Swarm.