VCs invest in hundreds of projects, few break even, even fewer make money. A tiny percentage make big gains and therefore pay for the rest.
Now with ICOs everyone is trying to be a VC... Buying into ICOs is trying to be a VC, albeit with little to no expertise, no process (for the most part) and far less info. even worse, sometimes misstated info.
Nothing wrong with buying tokens on the run but please consider it gambling not investing. Manage your expectations accordingly.
Small investors are unlikely to enjoy good returns with this strategy. I agree with @nanzo-scoop. Sit and wait to see which project(s) come out with a viable product.
Well said @liotap. There are many dot.coms that aren't around!