True/False 1: According to Bob Zider in his article "How Venture Capital Works", most venture capital funding is used for basic research.

True/False

1: According to Bob Zider in his article "How Venture Capital Works", most venture capital funding is used for basic research.

2: According to Bob Zider in his article "How Venture Capital Works", venture capitalists take a very long view of the investments they make. Venture capitalists only plan to liquidate their investments in cases when the ventures are facing losses.

3: VC firm X makes a $1 million dollar investment. Ten years later the firm liqudiates its investment for $2 million. The IRR of the investment is over 12%.