It's a numbers game. You only need one in twenty con artists to become wildly successful before they're caught, and your overall con artist portfolio is guaranteed to win out.

And of course, there's no downside for the investors. If you backed a con artist, you're not culpable - you're a victim.

Have you been paying attention to what has been happening for the last year? Now is the era of con artists: break the law, pay a small vic, and you're free to scam again.

Why wouldn't investors give these people money? It's not like being an investor implies having morales, all they care about is making money whether it's legal or not and luckily for them crime not only pays but it's legal now too.

Salespeople are the easiest to sell to. Con artists are the easiest to swindle. The people who believe they're immune to being tricked are always the ones who get tricked the most.

Building a successful startup is very hard, and not just in the "it's a lot of hard work" sense, but also in terms of making good decisions. For the average person who went to college and worked in some other industry/capacity, the good decisions are very counterintuitive.

Most VCs have no idea how to accuratly judge startups based on their core merit, or how to make good decision in startups (though they may think they do), so instead they focus on things like "will this founder be able to hype up this startup and sell the next round so I can mark it up on my books".

Status anxiety.

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