Yeah I was going to say this- idiosyncratic geniuses like Tesla are behind some of the most important technogical advancement of the human species, but isn't what VCs are optimising for.
For sure, there's a wider question about how society can reward more than just the ability to return profit. That would help with a lot of today's issues, like climate change, but it's a much bigger issue than just one of where VCs put their money.
VCs put lot of money on solving climate change. I feel climate change is one of the most overinvested field, where companies like Helion are valued $3B not only without any working prototype, but also with an idea which many experts say is not feasible at all, and even in the case they could make the prototype work, it is highly unlikely it could compete with solar in terms of cost per unit energy.
But yeah we shouldn't put onus on VC to make society better. Government should invest more in research which benefits society.
I'm definitely not making any claims sbout VCs not investing enough in climate change. I guess the point I was trying to make was that progress on some issues for society needs more than chasing revenue.
I probably shouldn't have used climate change since it's often a controversial issue, but to keep down that path- Public transport would really help climate change but VC likely to invest in that heavily because return wise it isn't comparable to things like selling electric cars.
Again, I'm not saying that as a criticism of VC specifically, but more making the point that the way our society rewards talent or ideas isn't an exact match with what benefits society the most.
>How is it overinvested if no one (government, companies, you name it) come even close to "solving" climate change??
The two arent related in any way. Overinvested means that most current investors will lose money. It says nothing about the progress toward climate change
For sure, there's a wider question about how society can reward more than just the ability to return profit. That would help with a lot of today's issues, like climate change, but it's a much bigger issue than just one of where VCs put their money.