The Evolution of Venture Capital

This chapter traces the historical development of venture capital, starting from its origins in the whaling industry to the establishment of modern VC models in the mid-20th century. It examines key regulatory changes, notable figures, and the cultural dynamics of Silicon Valley that shaped the industry, ultimately leading to its prominence in the U.S. economy. Additionally, the chapter highlights the ongoing challenges within venture capital, including gender disparities and the impact of high-profile failures on investment practices.