I don't really agree with your assessment. First of all, having a knowledgeable person with operational experience deploy capital in viable early stage companie

I don't really agree with your assessment. First of all, having a knowledgeable person with operational experience deploy capital in viable early stage companies is indeed useful for society. Companies need capital to grow. Also, it's harder than it sounds to invest in startups. It's not the case that any rich idiot can multiply his money by being an angel investor. It's very, very easy to lose your shirt that way.