The Venture Capitalist funnel:
VCs will tell you that when they receive 1000 business plans, they decide to take a look at 100 of them, and then they typically invest in 10 of these. And then when they invest in 10 companies, one will make it really big, and 3 will do ok and the rest of them will be losers or die.
The good news for VCs is that the process works for them, and sometimes for their investors too (although recent data shows that returns are not that great for LPs). But for the entrepreneur entering this competition economy, the chances of success are less than 1%, not a very exciting proposition. VCs are not a good solution for 99% of the entrepreneurs getting started.