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I think this will be a major academic topic in economics for the next generation. It's not clear to me that any value was ever created. It was entirely notional
by tootie 4y ago
I think this will be a major academic topic in economics for the next generation. It's not clear to me that any value was ever created. It was entirely notional. Number go up, number go down. The biggest loser in real terms is the VCs who spent money they possibly earned through real work.
- andirk 4y agoI think the biggest victims are the people who held accounts that got drained. They were aware of the risk but they believed people smarter than them at least checked that the bank vault wasn't build on quicksand. VCs have access and ability to do due diligence and they didn't because they're blinded by their own awesomeness.