While true, assuming the collective mindset of an industry runs close to optimal just because its there is also naive. VCs themselves bet on industries being un

While true, assuming the collective mindset of an industry runs close to optimal just because its there is also naive. VCs themselves bet on industries being un-optimised! Plus in evaluating an industry you would need to see it in context. So returns for investors VS similar asset classes. Or in this case how VC funding compares to other funding methods for founders under relevant circumstances - and looking at relevant metrics (pace of growth, sanity etc).