Sebastian Mallaby on the Rise of Venture Capital and Their Impact on the World
Macro Hive Conversations With Bilal Hafeez
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The Evolution of Venture Capital and Startups
In your book, you seem to suggest that each ecosystem startups is really quite important to economic growth and the system as a whole. I mean, how firm is that belief of all viewers? It's very firm indeed. You know, if you go back to sort of the Ronald Coase economics classics in the 1950s, and he sort of described capitalism as having two central type kinds of mechanism for organizing resources. And my view is that this was a great description of the 1950s,. but capitalism is evolved. Now we have this middle pillar, namely venture capital and startups where resources are allocated through a mixture of price signals and top-down direction.
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