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Rusnano - is state owned Russian corporation headed by a close friend of Putin and an oligarch Anatoly Chubais. This is basically a shell company created to steal taxpayers money. Everyone knows it and there is lots of jokes about these "nano technologies". So be sure that out of 1 billion ,big chunk of it was in kickbacks to company's execs and middle managers.

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This is less about kick backs, more about the phenomenal cost of setting up new fabs.

Creating a new manufacturing industry is very expensive.

>Creating a new manufacturing industry is very expensive.

:)))

man, you just don't get how Russian nanotechnology business works. It uses completely different technological process. Let me explain step-by-step:

step 1: i invest into your venture 1B of government money i manage

step 2: you transfer back to my personal Switzerland account (not to my government fund) 500M.

Repeat until there is government money available.

Thank you for the clarification. Sounds a bit like being a VC in a large fund.

Kickbacks was the first thing I thought of.

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