The venture capital stuff was good for a time when Moore's law was repeatedly erasing whole industries at a cadence of every two years. That's how stupid ideas like blitzscaling could work [0]. How much longer will it last? That remains to be seen.

I find it instructive that a society that hasn't been exposed to VC practices has created some of the most valuable and innovative companies in the world.

[0] Blitzscaling 14: Elizabeth Holmes on Managing Product Strategy, Regulation, and the Media https://youtu.be/juhATwufdbc