You're referring to a pyramid scheme, not a Ponzi scheme. (Enough people mix the two up that the Wikipedia pages on both articles have sections on the differences between pyramid and Ponzi schemes).

Ponzi schemes are where you pay investors using the contributions of new entrants, so investors only make money so long as new entrants are joining. It's not exactly a new tradition for people to be referring to financial markets and bubbles as Ponzi schemes, although whether or not this appellation is appropriate is somewhat contested.