238. Ventures in Capitalist Innovation, Part 1: History and Mechanics
This Machine Kills
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The History of Venture Capital
The first modern venture capital firms came out of World War II. They were, they emerged as a way to commercialize the technologies that arose from the absolutely massive amount of federal defense spending into military R&D during WWII. Lee: Venture capitalists are active investors but also give startups mentorship and hands-on managerial advice for portfolio companies. And so this model has been the case from the very beginning since the late 50s or 1960s.
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