[bootload]

"... Yes, our finance system lacks sophistication, uhuh... ..."

By lacking sophistication, I mean a system of alternative capital (VC) that fully recognises Startups as a serious way to generate wealth instead of say lending money for property development, mining or agriculture.

"... So call [us] primitive if you like, but look at what your sophistication has brought you ..."

I'm Australian ~ http://www.flickr.com/photos/bootload/sets/72157601280899273...

[antipaganda]

My mistake, I was thinking macroeconomic instead of microeconomic.

You're right, it's yet another aspect of the "Australian invents something, Australia refuses to invest, Australian goes overseas and makes tons of cash" phenomenon.

[willcannings]

"By lacking sophistication, I mean a system of alternative capital (VC) that fully recognises Startups as a serious way to generate wealth"

That's definitely changing, e.g Innovation Bay, Startmate, the Sydney Angel Sidecar Fund, and others. VC/Angel investing is not at the same maturity as overseas yet, but it's definitely changing.