238. Ventures in Capitalist Innovation, Part 1: History and Mechanics
This Machine Kills
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The Role of Venture Capital in the VC Model, Right?
Lee points out that VC backed companies such as Apple, Google, Intel and Microsoft account for 44% of total R&D spending by US public companies. Lee goes through and enumerates a lot of these constraints that happen in terms of the everyday social practices of venture capital. The way that VC markets embody this kind of private ordering of the innovation system is a product of deliberate public policy, right? It's all of these federal laws, these regulations, these policies that have supported the creation of the modern VC system has a center point of entrepreneurial finance,.
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