Can I use Ethereum to fund a startup idea?

I mean this was one of the main use-cases/promises for Ethereum. Is that still possible. I see so many 'meme coins' and 'crypto projects' which turn out to just be ways to cycle money in ever more complex ways in a giant shitcoin gambling casino.

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But what about just create a simple ownership token. "mystartup-coin" or whatever. Mint 100k of them. Each one is a fragment of ownership in the startup that I will create, and it will receive proportional fund distribution from profits from the enterprise.

So I just have a smart contract that takes all the money deposited into it, and evenly splits it to all token holders of the original 100,000, and then I regularly deposit the profits of the business into this 'splitter' contract.

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(and use the initial IPO to actually create the business.)