There must be more to it, I can't believe people are believing in it. They must be in on the scam in some way.
Crypto is no more of a scam than venture capital.
If VC were like crypto, they’d only be funding startups whose objective would be to raise more money from other VCs
And this is not often the case? I mean for crypto it's basically only that, but there are quite a bunch of VC funded companies that just live on raise followed by raise. They won't say that out loud, but nor will crypto many crypto companies.