Maybe to some degree, but I don't think its notable. If it were the government printing money to invest in vaporware at the expense of actual innovation you could make a stronger case for that, but that's not what this is. This isn't the defense or pharma complex laundering government funding back to itself.

The history of technological and venture investment is pretty consistent back to hard money times. If anything, a vision would have to be shilled even harder then and on even loftier promises to separate investors from their money. This didn't equate to less vaporware and failure. In most cases it was the government itself that had to invest in technology, usually with defense as the only justification, and the rate of innovation and distribution of its benefits didn't increase until that decentralized.

A truly efficient economy would mean everyone is working with their own specific knowledge on asymmetric solutions, or retired, while menial tasks are automated away. A world where everyone is a solo founder is a better than one than where everyone is a wage slave. Imagine what speculative things you could work to improve your life and the lives of others if your hard money savings negated the need to chase a soft-money paycheck just to maintain your current lifestyle.