The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why VC is a Ponzi Scheme Today | Why Most VCs are Bankers | Why Big VCs Ruin Startups | Why Incentives in VC are Broken | Why American Dynamism is a Tool for VCs to Raise Money with Nick Chirls, Asylum Ventures
Nick Chirls
That's the hedge fund Ponzi scheme. And we saw this, by the way, I saw this at Lehman Brothers back in the day. Traders, you're gambling with someone else's money. So you're incentivized to take as much risk as humanly possible with the bank's money. You take a ton of risk. You get a $20 million bonus that year. Great. You lose all the money next year. You get fired.
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