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

923.595 - 943.002 Nick Chirls

We need to go fund lots of similar companies like that. They put out a siren call and then all the little firms run around town to try to go find that company for them. They're all playing catch up. They're all playing this weird game of momentum and copycat. It's not going to make you money. So like it's happening in AI right now. Open AI is huge. Everyone's trying to play catch up.