First published 2022
Venture capital operates on a simple principle: most investments fail spectacularly, but the rare winners generate returns so massive they cover all losses. This power law drives everything from tiny startups to Silicon Valley giants. Sebastian Mallaby takes readers behind the scenes of this secretive industry to examine how randomness shapes investor decisions. The journalist uncovers the stories behind iconic Silicon Valley successes and notorious failures, from Apple's unconventional beginnings to Elon Musk's electric vehicle venture to the flood of money that fueled the arrogance of companies like WeWork and Uber. Following these risk investors as they hunt for the next breakthrough, Mallaby reveals the delicate balance between gut instinct and hard data that determines investment success. The book demonstrates that the future cannot be predicted with precision but must be explored and discovered.
Genres: business, economics, non-fiction, entrepreneurship
Vibes: thought-provoking
Tropes: discovery, exploration
Setting: Silicon Valley
Period: 21st-century
Paperback · FisicalBook