isn't this the purpose of patents? ... prepare for grotesque oversimplification ... NewCo creates some innovation and spends a bazillion dollars creating a ne

isn't this the purpose of patents? ... prepare for grotesque oversimplification ... NewCo creates some innovation and spends a bazillion dollars creating a new market for it (and fails because creating new markets is expensive). NewCo ultimately runs out of money and dies. VCs retain the assets (including the patents). LaterCo comes along a few years later with new funding and taps into the market NewCo created with a similar product. LaterCo succeeds. NewCo's VCs send in their lawyers and LaterCo pays up. Perhaps the article should be about why VCs have quit taking long term bets.