Sadly, people have blind spots. I personally know someone who just like 40-50k, someone who was THE biggest advocate of Terra/Luna. Post crash? Reinvesting in Luna2.0
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.