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> A lot of smart people are invested in crypto: a16z, USV, Paradigm. These aren't greedy VCs -- it's their job to make returns for institutional investors who a
by Ologn 5y ago
> A lot of smart people are invested in crypto: a16z, USV, Paradigm. These aren't greedy VCs -- it's their job to make returns for institutional investors who are often pension funds or charitable endowments, so if it a "Ponzi" then they are fools.
(I wanted to say back in 1999) - a lot of smart people are invested in dot-com startups: Kleiner Perkins, Sequoia, Hummer Winblad. These aren't greedy VCs -- it's their job to make returns for institutional investors who are often pension funds or charitable endowments, so if it a "Ponzi" then they are fools. I'm sure Hummer Winblad's investment in Pets.com will work out great.
- okareaman 5y agoThe vibe is the same: I worked at dotcom pre-crash and the owner used to give noob internet investors (like the "Small Plane Pilots Association" or some such) a tour of the company and say something like "Look at all those people creating value on the internet! The internet is changing the world"