How does that square with the observation that venture capital returns aren't actually that good? http://pando.com/2013/07/30/ouch-ten-year-venture-returns-sti

How does that square with the observation that venture capital returns aren't actually that good? http://pando.com/2013/07/30/ouch-ten-year-venture-returns-still-lag-the-broader-markets/ http://pando.com/2013/07/30/ouch-ten-year-venture-returns-st... http://avc.com/2013/02/venture-capital-returns/ http://avc.com/2013/02/venture-capital-returns/ What percentage of certified investors actually do invest in startups, instead of just index funds or fancy managed funds that invest in established companies?