The Power Law: Venture Capital and the Art of Disruption

The Power Law: Venture Capital and the Art of Disruption

  • Downloads:2369
  • Type:Epub+TxT+PDF+Mobi
  • Create Date:2022-01-15 00:51:41
  • Update Date:2025-09-06
  • Status:finish
  • Author:Sebastian Mallaby
  • ISBN:0241356520
  • Environment:PC/Android/iPhone/iPad/Kindle

Summary

From an award-winning financial historian comes the gripping, character-driven story of venture capital and the world it made

Innovations rarely come from "experts。" Jeff Bezos was not a bookseller; Elon Musk was not in the auto industry。 When it comes to innovation, a legendary venture capitalist told Sebastian Mallaby, the future cannot be predicted, it can only be discovered。 Most attempts at discovery fail, but a few succeed at such a scale that they more than make up for everything else。 That extreme ratio of success and failure is the power law that drives venture capital, Silicon Valley, the tech sector, and, by extension, the world。

Drawing on unprecedented access to the most celebrated venture capitalists of all time, award-winning financial historian Sebastian Mallaby tells the story of this strange tribe of financiers who have funded the world's most successful companies, from Google to SpaceX to Alibaba。 With a riveting blend of storytelling and analysis, The Power Law makes sense of the seeming randomness of success in venture capital, an industry that relies, for good and ill, on gut instinct and personality rather than spreadsheets and data。 We learn the unvarnished truth about some of the most iconic triumphs and infamous disasters in the history of tech, from the comedy of errors that was the birth of Apple to the venture funding that fostered hubris at WeWork and Uber to the industry's notorious lack of women and ethnic minorities。

Now the power law echoes around the world: it has transformed China's digital economy beyond recognition, and London is one of the top cities for venture capital investment。 By taking us so deeply into the VCs' game, The Power Law helps us think about our own future through their eyes。

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Reviews

James Beggarly

Thanks to Netgalley and Penguin Press for the ebook。 This is fascinating and so well researched。 This is the story of how Palo Alto replaced the East for driving power in the computer world。 They overly cautious money in Boston that finances ideas coming out of MIT is overwhelmed by the freewheeling way of the venture capital firms working with Stanford。 The East is looking for an established company to make modest returns, where the West backs ten ideas and only two of them become successful, b Thanks to Netgalley and Penguin Press for the ebook。 This is fascinating and so well researched。 This is the story of how Palo Alto replaced the East for driving power in the computer world。 They overly cautious money in Boston that finances ideas coming out of MIT is overwhelmed by the freewheeling way of the venture capital firms working with Stanford。 The East is looking for an established company to make modest returns, where the West backs ten ideas and only two of them become successful, but those two companies pay for the ones that didn’t make a hundred times over。 And that’s more or less how they still operate today。 This book also shows how much more hands on the West companies were。 They love the inventors of a company, but bring in their own CEO to make everything work smoothly。 The stories of individual companies are so interesting as well。 Atari has a fun game system, but the early company is a warehouse of potheads。 Apple has an elegant computer, but no one can stand Steve Jobs。 Again and again the venture capitalists firms step in and find a way to make it work, because the idea and the products are always larger than the impossible personalities。 。。。more