Good point about VC industry. Would there even be a distinction among various types of funds if not for regulation? Ie. pool money and invest? No matter if it

Good point about VC industry. Would there even be a distinction among various types of funds if not for regulation? Ie. pool money and invest? No matter if it is VC fund, hedge fund, pension fund, mutual fund, they all just pool money and invest in something. Which used to be called.. just a 'bank' before all those regulations.