[mempko]

A big myth often told in the tech world that things are developed by startups using private equity. We often forget the large and dynamic public sector. Biggest "VC" in the world is DARPA and other US government entities.

EDIT: I meant to say, it's a big myth the tech industry tells the public.

[ardit33]

It is not a myth, but well known. Startups take something that is already researched, and further develop it and commercialize/monetize it.

I think the myth might be more in the layman/general population, but most people in the tech world know this.

[mempko]

Yes! I guess I should be more precise thanks. It's a myth the tech world propagates to the general public. Updated my original comment.

[refurb]

You have numbers for the govt being the biggest? I mean, for biotech, total VC funding is larger than the entire NIH budget.