Many of the tall poppies in the high-tech space do not actually solve real world problems. Australian investors are not interested in yet another Uber or Facebook, etc. They know that such global user base ambitions require huge investments in marketing which may nor may not pay off.
Steve Baxter is a pragmatist, he doesn’t invest in ideas that don’t address a quantifiable need or do not have adequate technical foundations for the implementation. We need more people with his sense of relevance in the high tech investment space.