Literally Ponzi. It's only an anecdote, but I found this one interesting, from a physicist talking about a startup whose key innovation literally defied physics (recharging batteries via ultrasound): http://su3su2u1.tumblr.com/post/129385764803/conversation-wi...

> I reached out to an investor in impossible startup I had talked about previously. Had a long phone call today, in which he explained to me he didn’t invest because he thought they’d ever be a viable business. He invested because he thought between their pitch/charisma and the names of the investors backing them they’d be able to get several rounds of funding, and he’d be able to cash out.

That is: there's so much VC money sloshing around that hoping for a Greater Fool literally counts as a business strategy.