[majia]

Gov is more likely to be schemed than VC because those who make investment decision don’t get as much reward/punishment. However, for the same reason, gov can also invest in projects with long term benefits. So gov is not intrinsically good or bad; it’s really about good governance.

[Retric]

I don’t know if that’s true. Overselling becomes less enticing to these administrators. It’s really a question if less motivated but more rational people are better at these decisions.

That said, there is plenty of incompetence, fraud, and corruption to make the worst on both sides really bad.