Jed writes: >I have nothing against capitalism. But cold fusion is still at the >fundamental research level, and there is no way a venture capitalist can >invest in it.
True, but for the reason I state: there is no property protection so no sane businessperson would invest in it. Would you put your personal money into a CF based business, knowing full well that you'll lose every penny the moment the first product leaves the factory? >However, I started to make a list of key breakthroughs, and >it turns out I cannot think of a single example in which VCs helped during >the invention phase. Here's a good example of both the positive and the negative of VC funding. The personal computer. The 80's brought the PC into the home, through business and VC. That said, the best that could be done to network them is the venerable BBS, which I'm sure many of us remember. It took the government to create the Internet, and the second great wave of PC's into the home. It is the one example I could think of which arguably reverses your proposed trend. Although I suppose you'll reply that the microchip was essential to make the PC possible, and hence back to the government. VC funding is best when the thing is already realized and doesn't need VC funding (grin). Just like the bank will really only loan you money when you can prove you don't need the load... K.
