Where does it fail? The weakest link in this statement is translating theory into concrete practice for Series A funding.
A research paper, no matter how innovative, does not guarantee investors' conviction or regulatory compliance.
In Japan, the FSA requires tangible evidence of commercial viability and risk management, not just theoretical models.
Without robust empirical validation under real market conditions and adoption by venture capital actors, the impact on Series A funding remains purely academic.
For example, a Japanese venture capital fund will not invest solely based on an arXiv model; it will require traction evidence and a solid business plan.