You can "sincerely doubt" it all you want, doesn't make my experience false. Again just because you got screwed doesn't mean others are, how many millionaires has SpaceX minted last week? In a startup it is the exception to have experiences like yours, the norm is that they make some, but probably not much, from a startup because most startups don't go anywhere.

> No one forced people to invest in Enron. I guess it was ethical. No one was forced to invest were Bernie Madoff. I guess it was ethical.

Yes, there was nothing unethical about being an investor in these, sometimes you cannot predict what a company will do but that doesn't make you an unethical investor unlike investing in say weapons manufacturers.