Yet this is how these things are set up. I know a VC fund manager solo managing a €50m fund, of which €20m came from the European Investment Bank, and €20m came from the local government. He put in €200k. Just €9.8m came from HNWIs.

So he's getting 2% on €50m for 7 years, to invest €40m government money with pretty much no expectation of any return. Not bad, not bad at all. I'm sure "the people" would be outraged if they knew. But they don't.