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http://www.bloomberg.com/news/articles/2014-09-23/are-public-pensions-inflating-a-venture-capital-bubble http://www.bloomberg.com/news/articles/2014-09-23/are-p

http://www.bloomberg.com/news/articles/2014-09-23/are-public-pensions-inflating-a-venture-capital-bubble http://www.bloomberg.com/news/articles/2014-09-23/are-public... People with capital subsidising basic services is not a good thing because pensions are so widespread - the subsidy is essentially coming from the same people taking the ride in the first place, just via an incredibly high overhead and roundabout trip!

kevinmchugh 10y ago
This bloomberg article says that something like 30% of VC money came from pensions in 2014, 2/3 of that from public pensions. Perhaps a couple percent more, because funds of funds were a large contributor. It makes a very convincing argument that VC is a bad investment vehicle for pensions, but I can't draw the line from this article to pensions are subsidizing basic services. Certainly with Uber, it's largely Saudi Arabia right now that's subsidizing riders. That is a very circuitous path for the Saudis to benefit or enrich their subjects, but everyone else in the uber world is benefiting.