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, bec

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.