Bill Janeway: Investing in the Innovation Economy (EP.194)

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Mar 31, 2022

Bill Janeway, author of 'Doing Capitalism in the Innovation Economy', discusses the role of the state in innovation, venture capital operations, asset allocation for investors in innovative companies, reflections on financial bubbles, and insights into cryptocurrencies and decentralization.

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Introduction

00:00 • 3min

Exploring the Origins of Funding for Innovation and the Role of Speculation in Markets

03:17 • 2min

Evolving Landscape of Venture Capital

04:57 • 15min

Navigating Technology Investments in Public Markets

19:51 • 4min

Innovation, Investment, and Climate Change Response

23:33 • 13min

Shifting Priorities in Corporate Innovation

36:37 • 5min

Evolving Landscape of Work Management

41:48 • 4min

Cryptocurrency Revolution and Regulatory Challenges

45:30 • 10min

When it comes to the uncertain future of financial markets and technological innovation, a deep understanding of history and the roots of the systems at play in our contemporary climate is often overlooked. This is the argument made by Bill Janeway, our guest on the show today and the author of Doing Capitalism in the Innovation Economy. We have a fascinating conversation with Bill who has vast experience in both the academic and venture capital spheres, having spent years working in both sectors. Bill does an amazing job of sharing his expertise, talking about the role of the state in innovation, how venture capital actually operates, and what the innovation economy means for those who are not on the vanguard of technological progress. We discuss how investors can think about allocating their assets in relation to innovative companies, Bill's reflections and advice regarding financial bubbles, and how Bill applies his understanding to current questions about cryptocurrencies and decentralization. Bill's lifelong passion and commitment to learning about the history of economics and the financial markets makes him a deeply valuable resource and having him on the show was so illuminating, we hope you enjoy the conversation as much as we did.

Key Points From This Episode:

Bill explains his concept of the 'three-player game' and how it brings together two important histories. [0:03:13]
The role of venture capital in technological innovation in the last 50 years. [0:05:16]
Findings on the returns experienced by entrepreneurs in light of VC structures. [0:10:22]
Thinking about venture capital as a private investor; best approaches for asset allocation. [0:15:05]
Investing in innovation and assessing secondary market public equity benefits. [0:20:02]
Bill explores the relationship between innovation and financial bubbles. [0:31:43]
Waste and innovation; what we should expect as we progress. [0:35:43]
The people left behind by innovation; who has taken the role of trade unions? [0:41:09]
Bill weighs in on the question of cryptocurrencies and their place in the conversation about innovation. [0:45:38]
Investment in crypto from big firms; separating the 'adults' from the crooks. [0:51:36]
Why a deep understanding of history is paramount to sustainable innovation. [0:53:10]
Bill's personal definition of success; staying motivated for work! [0:55:15]