Well, the second comer is raising a bunch of VC funding too (iirc raised $25M so far and in talks to raised $250M more). VCs buy in because "this time, it's dif

Well, the second comer is raising a bunch of VC funding too (iirc raised $25M so far and in talks to raised $250M more). VCs buy in because "this time, it's different" narrative. Or more likely because they know they can offload their shares to the next VC in the next round (who can then dump on retail). It's a game of musical chairs with the ultimate goal of dumping on retail investors. If not that, at least dump it on other VCs.