I think it would be unwise to tax away a financial ecosystem that has driven innovation for the world and funded one of the nation’s largest growth industries in exchange for marginally increasing infrastructure spending.
I am not convinced that we have seen much worthwhile innovation through VC money.
Apple has released innovative products. Many other tech companies, too. Compared to that VC funded business in the last 20 years seems to have been very good at creating personally and socially destructive attention machines to sell advertisement.
That's certainly addictive and has been profitable, and being early movers has allowed the US to capture a lot of value from the rest of the world, but whether it's valuable is another question...
VC is a tiny corner of the $4T private equity business. In fact all the funds discussed in this article are late stage / crossover funds who put money into established businesses. Hmm, and none based on Silicon Valley.
Apple has released innovative products. Many other tech companies, too. Compared to that VC funded business in the last 20 years seems to have been very good at creating personally and socially destructive attention machines to sell advertisement.
That's certainly addictive and has been profitable, and being early movers has allowed the US to capture a lot of value from the rest of the world, but whether it's valuable is another question...