As much as I appreciate that's the VC model, perhaps less would fail if VCs didn't push for billions in revenue? The failure rate might be less than 9/10 if it wasn't "all or nothing"? Guessing it still wouldn't make enough home runs as an investment vehicle though?
That's assuming 90% failure when looking for sustainable businesses. There are some upcoming VC's which are doing well funding smaller companies. Momentum Ventures is one I know of.
