ponzi scheme

Chamath Palihapitiya talks with Jason Calacanis about how he bought into the mythology of Silicon Valley, which he calls a Ponzi scheme, and about rebuilding Social Capital. He urges founders to grow slowly and build what matters.

A 13-minute clip from This Week in Startups in which Chamath Palihapitiya describes venture capital as a Ponzi-like scheme driven by fees and inflated valuations among VCs.