> a circular flow This isn't just crypto, this is a fundamental strategy for most VC funds. The most valuable VC funds select portfolio companies based on whet

> a circular flow This isn't just crypto, this is a fundamental strategy for most VC funds. The most valuable VC funds select portfolio companies based on whether they will succeed at selling to each other. This shows a growth multiple that is used to position the company for raising funding from the next sucker VC. That VC then "introduces" their portfolio company to their other portfolio companies, in continuum, until exit. Eventually the public market understands that the growth multiple is a house of cards and the stock tanks. But the VC is happy because they took their exit, the government is happy because these companies collectively employ hundreds of thousands if not millions of people who pay above-average tax rates, and even institutional investors are happy so long as the stocks tank individually and not in concert, making little difference to their overall portfolio. So the practice continues.