That’s not a foolish mistake on VCs part—they have sensible reasons to think that some other company will get most of the rewards (how much did Xerox get from PARC’s UI innovations?).
Xerox got the commercial laser printer from Xerox PARC’s research and that was a very good return on the money they invested into Xerox PARC.
Xerox got the commercial laser printer from Xerox PARC’s research and that was a very good return on the money they invested into Xerox PARC.