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A comment on Crypto.com accounts had unauthorized withdrawals. Parent comment

Re:Crypto.com accounts had unauthorized withdrawals by thow-58d4e8b on Thursday January 20, 2022 @10:40AM (#30010212)
Venture capital used to be about placing small, diverse bets on a lot promising startups - everybody in the process was trying to make the world a better place

Since about 2018, VC game changed - now it's about brazenly placing massive bets on a small set of startups of increasingly questionable utility, using the funds and clout to ram their way through into monopoly positions. Not a speck of morality involved anymore - and nobody is even trying to pretend otherwise

Public image hasn't yet caught up with this reality

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Re:Crypto.com accounts had unauthorized withdrawals by Spoom on Thursday January 20, 2022 @11:11AM (#30010750)
It feels like a bubble to me. When I see Matt Damon shilling crypto, it reminds me of pets.com Superbowl ads. I think reality will catch up sooner or later.
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Re:Crypto.com accounts had unauthorized withdrawals by KeAShizukuTio on Thursday January 20, 2022 @02:10PM (#30013212)
I owned shares in a teak plantation in the late 1990s. We make mistakes when blinded by greed.
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Re:Crypto.com accounts had unauthorized withdrawals by CPLX on Thursday January 20, 2022 @11:45AM (#30011294)
> everybody in the process was trying to make the world a better place

have you actually met any VCs?

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Re:Crypto.com accounts had unauthorized withdrawals by Wiseacre on Thursday January 20, 2022 @12:27PM (#30011862)
I laughed out loud when I read that statement. Holy moly the delusion is strong.
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Re:Crypto.com accounts had unauthorized withdrawals by smeyer on Thursday January 20, 2022 @11:34AM (#30011119)
>everybody in the process was trying to make the world a better place

I think "everybody" here is a pretty substantial overstatement. Plenty of folks were just trying to make money, without much regard for whether it made the world better or worse.

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Re:Crypto.com accounts had unauthorized withdrawals by wahnfrieden on Thursday January 20, 2022 @11:56AM (#30011455)
we don’t know if CDC funding is VC
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Re:Crypto.com accounts had unauthorized withdrawals by mbesto on Thursday January 20, 2022 @12:13PM (#30011690)
It's irrelevant what the funding comes from or how you define it. VC, PE and Hedge funds all have fairly loose definitions. But, someone is funding it because it sure ain't coming from profits.
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Re:Crypto.com accounts had unauthorized withdrawals by wahnfrieden on Thursday January 20, 2022 @12:39PM (#30012031)
what’s your analysis on their profits
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Re:Crypto.com accounts had unauthorized withdrawals by gowld on Thursday January 20, 2022 @11:41AM (#30011225)
CryptoPets.com incoming!
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