Yes, Google has had an immense impact in the world and VCs have a huge role in ensuring that. But just before Google, wasn’t it first a research project at Stanford?
They try to create different things, which makes it hard to compare. If you think equity is what matters, obviously VC has. If you think knowledge and other public goods matter more, the foundations have it.
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In terms of making high-quality scientific research freely available, arXiv (supported by Cornell University library and the Simons Foundation) has done more than any startup.
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