More like: VC's headlong approach to funding everything under the sun in order to maintain some semblance of ROI is what led to this. The fact that they squander so much fiat is with nearly no repercussions, and little change to the order of things is the real astonishing part [1] as Misra lost $18 billion last year (a Historical record for Softbank) and still got a pay raise! VC's are operating just like Banks did in 2008, which helps re-enforce my argument that they too have become banks. Misra is former Deutsche Bank Debt trader and their wasteful and parasitic models are being deployed in this space and creating the forth that leads to bubbles and busts that distort the real innovation happening and often ignotring those smaller but valuable venture worth funding in exchange for short-term gains that seem to only generate losses.

The real winners are Companies like Square who sold their (obsolete) products to companies like Doordash flush with VC money and use it to invest into Bitcoin and its related infrastructure as well as studies for UBI as its clear the World will need it moving forward.

There is nothing humane about what any of these food delivery apps does or represents (just go look at their subreddits) which perhaps does align with socialist theories when put into practice--I've lived in and worked in what was former Yugoslavia and former Soviet satellites nations to realize what it really looks like and its usually the same paradigm of an overworked, underpaid and exploited underclass. That work culture never changed. Anyone wanting to revert to that is welcome to do so in my opinion, and that usually looks like what you see working in a warehouse for Amazon.

1: https://www.forbes.com/sites/sergeiklebnikov/2020/05/29/soft...