Venture Capital a Booming Business?

It was reported recently that about one third of angel-backed companies do well. That means they’re on the road to achieving their business plans.

And, I assume highly-leveraged, profitable IPOs, needed to bail out the investment.

If the success-rate figure were true, that would mean venture capital is an extraordinary booming business. But I have my doubts

If a third of any venture capital throw-of-the-dice worked, there would be billionaires in almost every once middle-class home. ( See the Earl J Weinreb NewsHole® comments.)