
238. Ventures in Capitalist Innovation, Part 1: History and Mechanics
This Machine Kills
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The History of Venture Capital
The US government played a critical role in catalyzing the VC industry and it has actively promoted its development for decades. The venture capital model came out of the capitalization and monetization, the profit extraction from defense developments in the post-war era. It perpetuates this myth that VC is an engine of innovation, right? And so, it's a very important role to build into these VC funds.
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