Because of the dogma-prone attitude of the Valley, and US in general – with its “lean startup”, the picture-perfect 4 minutes “stand up pitch”, the “Valley-style slide deck nothing else” – tons of great talents and startups have been shunned from funding for a decade or more.
Valley big shot VCs can take the merit for the explosion of the ICO model, whereby brilliant researcher, ideas, executioners and teams can get funded without spending 4-7 months fitting into the dogmas and moving the team to live within 30 minutes from a VC (mostly impractical for costs and Visa)
That said, It think lean startup method is a very good concept, its “customer development process” (i.e. user-driven innovation) is fantastic; while 95%+ of Valley people I’ve met still can’t distinguish an MVP (Minimum Viable Product) from a proof-of-concept, mockup prototype, prototype, beta product or initial product.