Harvard Business Review on why VC firms are attracted to the IRR of ponzi schemes: https://hbr.org/2017/03/what-initial-coin-offerings-are-and-why-vc-firms-care …
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VC firms are pitching pension funds on 2000% returns demonstrated by cryptocurrencies pitched as general purpose computing platforms.
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Industry is a rogue's gallery. Ambient competence levels could not run a church bake sale. Fraud happens in ten/hundred million increments.
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Hm. I guess it’s better than Flash Boys then?
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So. Much. Better.
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