Comment by nr378

> Remind me again why we need investors to fund bad ideas?

Early stage investors generally fund a portfolio of multiple ideas, where each idea faces great uncertainty - some investments will do tremendously well, some won't. Invstors don't need every investment to do well due to the assymmetry of outcomes (a bad investment can at worst go down 100%, a good investment can go up 10,000%, paying off many bad investments).

> The whole premise of western capitalism is that investors can better align with the needs of the society and the current technological reality.

This is not the premise of capitalism, it's the justification for it - it's generally believed that capitalism leads to better outcomes over time than communism, but that doesn't mean capitalism has 0 wasteage or results in 0 bad decisions.