The Power Law: Venture Capital and the Making of the New Future, by Sebastian Mallaby, Penguin Press, 496 pages, $30
Rock was an amalgamation of consigliere and connector. He helped the group secure funding, cementing his place in history as the father of modern venture capital, which offered an alternative to stuffy East Coast financial institutions that were leery of lending to tech ventures they perceived as risky.
In The Power Law: Venture Capital and the Making of the New Future, journalist Sebastian Mallaby draws on interviews with scores of high-profile venture capitalists (V.C.s)-and other sorts of reporting, including four years of sitting in on firms' meetings-to tell the story of Rock's new paradigm: a form of financing that centers on funding high-risk, high-reward companies in their early days. Mallaby, who similarly embedded himself in the world of hedge funds when writing his 2010 book More Money Than God, smartly details the well-placed V.C. interventions that produced technologies too many industry critics take for granted today.
This story is from the January 2023 edition of Reason magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2023 edition of Reason magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE LIBERTARIAN MIND OF DAVID BOAZ
Threats to freedom, Trump vs. Biden, and the wins libertarians can’t seem to acknowledge
DARE TO Fail
THERE’S NO SUCH thing as a universal millennial experience, but DARE comes close.
CULTURE WARRIOR IN CHIEF
THE MODERN PRESIDENCY IS A DIVIDER, NOT A UNITER. IT HAS BECOME FAR TOO POWERFUL TO BE ANYTHING ELSE.
Progress, Rediscovered
A NEW MOVEMENT PROMOTING SCIENTIFIC, TECHNOLOGICAL, AND ECONOMIC SOLUTIONS TO HUMANITY’S PROBLEMS EMERGES.
'Smoking Opium Is Not Our Vice'
AMERICA’S FIRST DRUG WAR WAS DRIVEN BY XENOPHOBIA AGAINST CHINESE MIGRANTS.
HOW CAPITALISM BEAT COMMUNISM IN VIETNAM
IT ONLY TOOK A GENERATION TO GO FROM RATION CARDS TO EXPORTING ELECTRONICS.
50 Years of D&D: You Can't Copyright Fun
THIS YEAR MARKS the 50th anniversary of the original edition of Dungeons & Dragons (D&D), the granddaddy of tabletop role-playing games and one of the urtexts of nerd culture.
The Pupil Panopticon
BIG BROTHER—and Parent, and Teacher— are watching.
Congress Could Swipe Your Credit Reward Points
A PLOT TO kill credit card reward points has bipartisan buy-in, with lawmakers framing the effort as an attempt to curb stillstubborn inflation.
Regulators Killed a Lifeline for Roombas
IN JANUARY 2024, Amazon terminated its agreement to acquire iRobot, the company that manufactures the Roomba robot vacuum.