[mustafa_pasi]

But overall this is good. Why should we complain? Why would I rather have VCs hoarding their capital?

[retrocryptid]

because it has positive economic externalities and avoids the moral hazard of enabling hucksters.

i have no problem with investment, but investing in an obviously stupid startup just cause they were launched by a friend's kids doesn't seem like a way to allocate capital that Adam Smith would appreciate.