This isn’t true, every venture capitalist pretty honestly says only 1/10 or 2/10 of their investments will make all the returns. And they do. Just because you

This isn’t true, every venture capitalist pretty honestly says only 1/10 or 2/10 of their investments will make all the returns. And they do. Just because you see 9/10 failures and think it’s a Ponzi scheme doesn’t mean it is, especially when the market is quite happy with what’s happening, and there are still plenty of profitable unicorns being created. You are skewing your opinion towards not survival bias but failure bias basically.