A major exploration of venture financing, from its origins in the whaling industry to Silicon Valley, that shows how venture capital created an epicenter for the development of high-tech innovation. VC tells the riveting story of how the industry arose from the United States' long-running orientation toward entrepreneurship.
Venture capital has been driven from the start by the pull of outsized returns through a skewed distribution of payoffs-a faith in low-probability but substantial financial rewards that rarely materialize.
Whether the gamble is a whaling voyage setting sail from New Bedford or the newest startup in Silicon Valley, VC is not just a model of finance that has proven difficult to replicate in other countries.
It is a state of mind exemplified by an appetite for risk-taking, a bold spirit of adventure, and an unbridled quest for improbable wealth through investment in innovation. Tom Nicholas's history of the venture capital industry offers readers a ride on the roller coaster of setbacks and success in America's pursuit of financial gain.
- Format: Hardback
- Pages: 400 pages, 33 illus., 2 tables
- Publisher: Harvard University Press
- Publication Date: 26/07/2019
- Category: History of the Americas
- ISBN: 9780674988002