Thiel started it, and then sold it for a reason. I'm betting that reason is that it's a ponzi scheme at heart and will collapse spectacularly at some point. Started it with Elon, who also sold, likely for the same reasons.
Thiel started it, and then sold it for a reason. I'm betting that reason is that it's a ponzi scheme at heart and will collapse spectacularly at some point. Started it with Elon, who also sold, likely for the same reasons.
How is it a Ponzi scheme, they provide a money transfer service and take a usually hefty fee for it.
How is it a Ponzi scheme, they provide a money transfer service and take a usually hefty fee for it.
(Speculation) The fees don't cover the operating costs, and they run on VC money and the float from the accounts that have money in them, kiting things along like all ponzi schemes.
I don't know what the specific type of ponzi scheme is, but they sure as hell look and act like ponzi schemers.
(Speculation) The fees don't cover the operating costs, and they run on VC money and the float from the accounts that have money in them, kiting things along like all ponzi schemes.
I don't know what the specific type of ponzi scheme is, but they sure as hell look and act like ponzi schemers.
Ah, I figured they were past the VC stage, they're a pretty OG internet company having been around since like 99
Ah, I figured they were past the VC stage, they're a pretty OG internet company having been around since like 99
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