EAN: 9780141988948

THE POWER LAW - SEBASTIAN MALLABY KARTONIERT (TB)

From an award-winning financial historian comes the gripping  character-driven story of venture
capital and the world it made Innovations rarely come from experts. Jeff Bezos was not a
bookseller  Elon Musk was not in the auto industry. When it comes to innovation  a legendary
venture capitalist told Sebastian Mallaby  the future cannot be predicted  it can only be
discovered. Most attempts at discovery fail  but a few succeed at such a scale that they more
than make up for everything else. That extreme ratio of success and failure is the power law
that drives venture capital  Silicon Valley  the tech sector  and  by extension  the world.
Drawing on unprecedented access to the most celebrated venture capitalists of all time 
award-winning financial historian Sebastian Mallaby tells the story of this strange tribe of
financiers who have funded the world's most successful companies  from Google to SpaceX to
Alibaba. With a riveting blend of storytelling and analysis  The Power Law makes sense of the
seeming randomness of success in venture capital  an industry that relies  for good and ill  on
gut instinct and personality rather than spreadsheets and data. We learn the unvarnished truth
about some of the most iconic triumphs and infamous disasters in the history of tech  from the
comedy of errors that was the birth of Apple to the venture funding that fostered hubris at
WeWork and Uber to the industry's notorious lack of women and ethnic minorities. Now the power
law echoes around the world: it has transformed China's digital economy beyond recognition  and
London is one of the top cities for venture capital investment. By taking us so deeply into the
VCs' game  The Power Law helps us think about our own future through their eyes.

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