You still could go to some industry or some university or the government and if you could persuade them you had something on the ball—why, then, they might put up the cash after cutting themselves in on just about all of the profits. And, naturally, they'd run the show because it was their money and all you had done was the sweating and the bleeding.
The basic scam in the Internet age is pretty easy even for the financially illiterate to grasp. It was as if banks like Goldman were wrapping ribbons around watermelons, tossing them out fiftieth-story windows, and opening the phones for bids. In this game you were a winner only if you took your money out before the melon hit the pavement.