> The US Govt is going to be more likely to loan to businesses where the underlying economics just aren't there Dot com boom? Something like 30-60% of venture

> The US Govt is going to be more likely to loan to businesses where the underlying economics just aren't there Dot com boom? Something like 30-60% of venture backed businesses outright fail, and only 5-17% are hits. I'd say you're not looking for a much better outcome on venture funding being a predictor of 'how well the economics are there' Truth is, governement loans + earlier IPO lets them keep tons more equity, and allows more measured growth (both of which are important when creating real world products, as opposed to electronics/software, which have a smaller manufacturing footprint than say, experimental cars). The transmission issues alone would have been hideous to deal with under a VC.