Re: Slightly odd EU thinking going on here...
"New Internet start-ups are hardly in need of huge up-front investments with a very long period before payback"
Uber? WeWork? SnapChat? Or worse, Theranos? It's not that VC always bet on the right horse, or understand in time when they chose the wrong one.
Evidently you can do it the wrong way or the right one - ignoring "elite names" with good connections but without a clue, just selling vaporware. What it's really needed is being able to vet those who are working on really new and good technologies, and not those who are recycling old XIX century business models with an app on top of it.
Biting the hand that feeds IT
