R&D requires scale. There are relatively few jobs compared to the size of the industry. And the vast majority of the wine industry is indeed in the $10-or-less

R&D requires scale. There are relatively few jobs compared to the size of the industry. And the vast majority of the wine industry is indeed in the $10-or-less category. Alcohol in general is a pretty well-consolidated industry, with a few global giants owning the vast, vast majority of the global brands and production. And I never said there wasn't money in it -- there is, but it's not going to be made by VC startups. The problem is that it's a relatively easy market to get into (I.e. There are no major technical hurdles) and it's really obvious. People will make money, but its really not a hockey-stick market. The types of companies that will be successful will be ones with superior cost controls enabling them to outlast / outspend the competition on brand advertising.