Did you investing on wrong projects ? There are many failed projects in ICO indeed.
But how about IEO ? Do you think IEO is only a scam fund rising ?
Investors will prefer to investing in IEO because it is held by a reliable platform such exchange.
It seems like he has invested a lot in scam projects and lost a lot of money which makes him frustrated and for the IEO I agree with you very much, IEO is much safer than ICO
The IEO also does not guarantee bro, a few weeks ago many investors complained about investing in the IEO, when the IEO ended and was listed on the stock exchange. most of the fate of the IEO project is not much different from ICO.
Just look at this thread https://bitcointalksearch.org/topic/do-you-believe-in-ieo-bittrex-5139787, even the IEO project from Bittrex has still not been able to make investors satisfied.
Most developers only do fundraising to make their own wealth, they don't really develop their projects seriously. The IEO and ICO are just their cover.