> They include large pension funds for public employees like teachers, firemen, police, and the like. How is investing in internet startups part of teachers, f

> They include large pension funds for public employees like teachers, firemen, police, and the like. How is investing in internet startups part of teachers, fireman, and police pension? It's just about the most risky and difficult investment to get right. Most startup investors aren't successful and if they are it's because 50 portfolio companies fail and 1 or 2 exit for a billion. I don't understand how the retirements of middle class Americans can be bet (litterally craps style on green) on startups.