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This, it is much cheaper to sit on hands and wait for the 1/20 startups to succeed and then just buy them.

Unfortunately this will work indefinitely until governments realize that it is not good for the health of the economy.

Governments do the same thing. They can't do much by themselves, so they issue RFPs, vendors bid then do for them. Many of these vendors don't make it (1/20? no idea). Is that also bad for the economy?

Our democratic Governments are ultimately held accountable by voters and not their fiduciary obligation to maximize profit for shareholders. There is a more humanist element to governments.

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