Most of the capital is effectively controlled by large pension companies, advised by a small number of pretty traditional consultants, and little goes into VC.
This (Used to work for the largest of them all) and one of the slowest internet speeds of the western worlds.
Almost everything in Australia is a monopoly: kmart, target, the biggest grocery chain are all owned by one company. 90% of the internet infrastructure is owned by a single company. Yet people dont react because real estate exposure.
Two companies. It's more duopoly rather than monopoly but they track each others prices to ensure they aren't offering anything cheaper than the other.