Companies providing those services would exist anyways. The profile of the person founding them would be different. You'd have istrionic risk takers, borderlin

Companies providing those services would exist anyways. The profile of the person founding them would be different. You'd have istrionic risk takers, borderline gamblers carrying the company for the first say 5 years, then they'd be bought out and a more stable person would be brought in. The VC model enables the economy at large to artificially skip the first step. It's artificial because Silicon Valley companies which basically start from zero and arrive in the S&P500 in 20 years or less, they have very low turnover in managment and executives. It's like a Vietcong learning how to fly an F-35.