Does the VC community actually have a better record than the government does in picking winners? A lot of VC funds do quite poorly.
Of course, you could say that good VC funds do, and choose what you count as good VC funds in hindsight, based on returns. But then you could also say that good government programs and agencies have good records, if they're also chosen in hindsight.
Of course, you could say that good VC funds do, and choose what you count as good VC funds in hindsight, based on returns. But then you could also say that good government programs and agencies have good records, if they're also chosen in hindsight.