Yes, that is what venture capital (VC) overwhelmingly has become, the trial-and-error of make-believe.
A pageantry of risk aversion by fragmentation and collusion on deal composition turned private equity stock trading, relying heavily on a consensus of all parties involved to share the downside risk of nebulous socioeconomic impact — the reason why I started calling VC a subprime business some twenty years ago. The composition of subprime having changed somewhat over the years, its uniformity and output not so much. A uniformity fundamentally incompatible with the discovery of outliers, as Tesla painfully discovered.
Case in point: Tesla succeeded despite, not because of venture capital.
The current venture capital thesis is quite the opposite of the pursuit of upside risk with innovation bound to change the world for the better. And since the theory determines what can be discovered, humanity’s entrepreneurial capacity remains restricted by the economic fallacies of its arbitrage. VCs get away with its fallacies because the SEC is asleep at the wheel of creative destruction, and the public, as the last in the chain of greater-fools, cannot tell the difference between valuation and value until the pump-and-dump schemes hit them in the face post IPO. Hello Facebook.
Human ingenuity is held hostage by the “angels” of innovation arbitrage allowed to run amok unchecked. Indeed, VCs destroy human ingenuity and capacity with moving targets of make-believe in anything but strengthening human renewal. A reason why I got out of the VC business in the first place, just because I refuse to collude on cheating the general public out of their hard-earned money, three times over.
So, go ahead, get the ball rolling, raise more money from the people who perpetuate this foolish game if you can sleep at night, not wondering why our intellectual capacity cannot make humans live longer than an ordinary fly.
I suggest you do better than get a ball rolling down a hill and seek investors with commensurate aptitude, for a company that does not strengthen humanity instead weakens it.