VCs do everything you would expect the USSR would do, while being a private company.
VC Financing projects without asking too many questions. Sometimes people refer to this as VC welfare. If a company puts the right combination of “disruptive”, “blockchain” and “AI” in their slides they receive funding. Showing some APIs, an app with users (real or fake) the money flows him.
With no real technical evaluation.
USSR Financing projects without asking too many questions.