“In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.”

Alex Berenson is an American journalist and author. He is known for his investigative work on technology, particularly the risks and ethical dilemmas surrounding artificial intelligence and social media platforms. His writing often explores the intersection of innovation and societal impact.