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It's an interesting point: countries, like companies, can be outrageously mismanaged and still come out on top as long as they have a small number of "free lunch" type advantages (e.g. the world's tech industry). But there's always a certain threshold you can't cross.
This is also the reason why VCs don't necessarily need to know what they're doing in order to make bank. One hit rescues a hundred duds
Saudi Arabia also comes to mind
Except that the hits tend to be concentrated in the same firms.
That's silly. Most VCs fail and the best ones usually succeed consistently.
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