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Cryptocurrency Mania Fuels Hype and Fear at Venture Firms

Business, Spoken

English - November 10, 2017 10:34 - 15 minutes - ★★★★ - 16 ratings
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Bart Stephens has found himself in high demand lately. After four years of investing in cryptocurrency and preaching its gospel, his venture-capital peers are finally listening. During a recent briefing at a storied Silicon Valley venture-capital firm, the young analysts in the room nodded along to his words in excitement, Stephens says. But not everyone was sold. In the middle of his presentation, a gray-haired senior partner stood up, yelled “PONZI SCHEME!” and stormed out.
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Bart Stephens has found himself in high demand lately. After four years of investing in cryptocurrency and preaching its gospel, his venture-capital peers are finally listening. During a recent briefing at a storied Silicon Valley venture-capital firm, the young analysts in the room nodded along to his words in excitement, Stephens says. But not everyone was sold. In the middle of his presentation, a gray-haired senior partner stood up, yelled “PONZI SCHEME!” and stormed out.

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