[siliconc0w]

There is an argument that the VC-class is actually not a very good way to direct socially productive capital deployment and it'd be better to tax the LPs and direct the research using a public (but meritocratic) process.

For example China (not without its flaws) largely skipped over the digital drug phase and went straight into funding socially beneficial things like energy and materials production, AI and robotic enabled manufacturing, and large scale infrastructure build out. So ten years later they have a lot of socially productive things and we have a lot of socially unproductive things.

[supliminal]

They didn’t skip over it. This was specifically chosen as a path by those in charge because they’re set on ruining our peaceful way of living for their personal gain.