[legitimayzer]

I think you're absolutely correct.

But this is by 'design', I have very unreasonable suspicions that indeed, the whole VC 'world of entrepreneurs' is just the way the USA government does R & D on an industrial-corporate scale. The 'brilliance' behind this way of doing R&D is that they only pick up the winners after they won, so they don't "waste" money on R&D death ends nor moonshots.

on the other hand, this is a good way to 'explode' for cheap the technological applications of already developed scientific innovations. meaning none of those VC-backed startups are doing innovative research, but in fact are devleoping commercial applications for corporate overlords who having seen who won, step in to buy them out.

even music industry is shifting to that model, they are now only signing bands/artists/influencers who already build their audience.

[xiphias2]

It's far superior to the EU model where politicians are tasked with creating requirements for ,,the next innovations'' and creating tenders, businesses popping up / recycled to win those tenders, do the minimum to satisfy the criterion that nobody really cares about, and try to siphon out as much money as possible using trusted subcontractors, meanwhile paying a huge part of the money for the privilage of winning the tender.

At least that's what's going on in Hungary, the most corrupt government in EU, I hope other parts are a bit better.