[nout]

Crypto is just extension of the banking system and VC powered money extraction schemes. Bitcoin is the only notably different thing in my opinion.

[eru]

VCs are pretty good at extracting money from Gulf state oil funds (sometimes via Softbank as the intermediary) and subsidising below-cost services for customers like office space sharing or ride hailing.

Of course, the VCs take a cut, but overall the redistribution seems net positive to me.