There's an inverted Ponzi dynamic to this. In a Ponzi scheme, the earlier gain the most and the later the least. In this dynamic, the later are guaranteeing t

There's an inverted Ponzi dynamic to this. In a Ponzi scheme, the earlier gain the most and the later the least. In this dynamic, the later are guaranteeing their returns at the expense of the earlier. It makes sense because of the necessity of these companies to raise capital, but it also has a somewhat ironic tinge.