>Can you imagine raising $288 million from VCs for a software application while delivering so little?

Yes, absolutely. I think you might be overestimating VC’s a little bit.

It can happen yes, but VCs have very strong incentives to not waste their own money, if they feel like putting the effort into it. If they fail they may learn the lesson not to waste money, or even end up not having money to waste. In the government all the incentives are the opposite, to keep spending money or the budget would get reduced next year. If anyone tries to save costs, they make a lot of enemies both within and outside. They get nothing if they succeed, so the incentives are bad.

	▲	vlovich123 3 days ago \| parent [-]
		I think you may have a flawed understanding of how VCs work. VCs generally care little for one company does. That’s what the whole “invest in 500 startups” strategy is about. Now a $200M investment probably starts to leave that range and enters the “throw weight around to win”, but generally they care little about the software except as a means to an end to get returns and business growth and software value are only loosely correlated.