I think this paragraph rightly shifts the responsibility (or at least the major share of it) on VCs and their business models: it does not matter if 99 out the 100 startups they finance fail provided that the successful one makes up for all the money they trashed down the drains with the others. It might be a nice business for them but think about what could have been done with all that money elsewhere. We live in a world where extremely abundant liquidity is allocated so badly. Such a waste.