238. Ventures in Capitalist Innovation, Part 1: History and Mechanics
This Machine Kills
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Did We Create a Great Tax Advantage System?
The National Venture Capital Association successfully lobbied for cuts to capital gains tax rate in 1978. This and another tax cut in 1981 helped bolster the VC industry. In 1981, the incentive stock option law shifted the time at which capital gains are taxed in a way that further benefited stock option compensation as a model. And thus directly led to noticeable and causally following expansions in venture capital.
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