Disruption Does anyone else think it's a bit counterintuitive for ICG to actively invite disruption into its industry? Disruption doesn't usually work out well for existing companies. Ask NBC how much better off it is since Netflix arrived, or ask your local cabdriver what he thinks about Uber. True disruption for gold miners could involve a decline in the demand for gold. Such as Bitcoin which is an even more reliable and transparent alternate currency than gold - that's disruption that's already happening which I suspect has indeed negatively effected gold prices. Or etf's or other investment products that track the price of gold. People can now own gold (or believe that they own gold) without ever actually owning any, meaning less of it needs to be dug out of the ground. Of course the less dug out the better. Just makes the gold you think you hold that much rarer and more valuable.
Anyway, I'm probably exaggerating to make my point but disruption is rarely positive for existing players. ICG needs to be careful what it wishes for.