Welcome to the ponziverse: how VC and startups became a hollow scam

Venture capital used to be home to the daring dreamers of the financial world, willing to place bets on moonshot ventures that promised to redefine the contours of technology and enterprise. They were the catalysts that ignited the flames of innovation, fostering a landscape rich with technological breakthroughs. Most of the time — they were seasoned founders with an itch to scratch and years of experience under their belts. Fast forward to today, and the landscape appears drastically altered. MBA types who’ve never worked a day in the trenches build their way up from Junior Analysts with zero startup experience to Partners with perfected Instagram aesthetics and still zero startup experience.

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