How are we supposed to fund new capital-intensive ventures otherwise? The government just subsidizes everything at the taxpayers' expense? (Welcome to Canada and Europe.) The government just picks winners in advance? (Welcome to the PRC.)
Capitalism is supposed to reward people that were able to succeed from previous ventures, or alternatively allow people to voluntarily pool more modest amounts of capital together. Everything gets distorted in the real-world, of course.
Capitalism is supposed to reward people that were able to succeed from previous ventures, or alternatively allow people to voluntarily pool more modest amounts of capital together. Everything gets distorted in the real-world, of course.