I am a lifelong resident of Michigan and sadly the state keeps doubling down on what isn't working. Politicians like to think they're smart enough to pick wi

I am a lifelong resident of Michigan and sadly the state keeps doubling down on what isn't working. Politicians like to think they're smart enough to pick winners and they're horrible at it. When Governor Jennifer Granholm was governor a guy approached the state needed investment for a factory in Flint. It would create thousands of jobs. They were delighted because that is something that never happens in Flint. They not only gave him the money but he posed him holding a $9.1 million dollar check with the governor. The picture of the two of them together was in all state media. You know when something sounds too good to be true you might want to do a little checking? When people in Flint saw the picture they informed the state that this guy was a well known conman who had just got out of jail and was living in a trailer. Luckily they were able to recover the money. https://www.mackinac.org/12345 https://www.mackinac.org/12345 Another Gov. Granholm story was the time an old line Boston VC firm approached the state for investment. So the state pulled funds out of the employees retirement plan to invest in the next round. The idea was that this would give the state more venture investment. But again no one did any due diligence whatsoever. This firm was not obligated to open an office in the state but only come a couple of times a year looking for investments. They were under no obligation to make any investments in the state and in fact did not. Due diligence would have revealed that the firm offered a very low return on their last several funds. So in the end the employees retirement funds grew more slowly and the state got no venture investments. That venture firm wasn't able to raise another fund and closed.