Venture capital

Why startups should build something new and own a small market before growing.

Venture capital from Arthur Rock to SoftBank, and why a few big bets pay for all.

Jim Clark, founder of Silicon Graphics and Netscape, starts a third company in 1999.

The empirical work that established how venture returns and cycles behave.

Georges Doriot, who showed that investing in small, risky firms could pay.

Why most government efforts to build venture capital sectors fail.

Innovation as a game played by the state, capital markets and competition.

How venture capital works, from fund economics to term sheets, for founders.

American venture capital traced back to whaling, and why it took the shape it has.

Supply-side case for entrepreneurs as the actual source of growth

Oral history interviews with the first generation of VCs.

Two years embedded inside Benchmark Capital.

Venture capital as finance: valuing startups, reading terms and expected returns.

How venture funds work: LP terms, fund mechanics and how returns reach investors.

An angel investor's rules for picking, backing and helping early-stage startups.

Operating manual for scaling a company from fifty to thousands

Four women venture capitalists and the deals the industry forgot

On direct listings and the alternatives to the traditional IPO, SPACs included.

Data on 30,000 startups testing what predicts a billion-dollar outcome.

Venture financing term by term, for founders negotiating their first rounds.