Chamath Palihapitiya, one of Silicon Valley's most outspoken tech investors, doubled down on calling the venture capital and tech start-up economy a Ponzi scheme on Wednesday.
In a letter released by Social Capital, his venture firm, Palihapitiya wrote that "the dynamics we've entered is, in many ways, creating a dangerous, high stakes Ponzi scheme" and a "bizarre Ponzi balloon."
Image: Heidi Gutman | CNBC Chamath Palihapitaya speaking at the 23rd Annual Sohn Investment Conference in New York City on April 23, 2018.
