Is it just me, or a lot of these never-gonna-be -profitable startups just Ponzi schemes? The first few people that start it eventually take some money off the

Is it just me, or a lot of these never-gonna-be -profitable startups just Ponzi schemes? The first few people that start it eventually take some money off the table as they keep getting funded, and eventually somebody is left holding the bag. If that's how it works, there is no reason for the same people to go out and do it again.