Cover: VC: An American History, from Harvard University PressCover: VC in PAPERBACK

VC

An American History

A major exploration of venture financing, from its origins in the whaling industry to Silicon Valley, that shows how venture capital created an epicenter for the development of high-tech innovation.

VC tells the riveting story of how the industry arose from the United States’ long-running orientation toward entrepreneurship. Venture capital has been driven from the start by the pull of outsized returns through a skewed distribution of payoffs—a faith in low-probability but substantial financial rewards that rarely materialize. Whether the gamble is a whaling voyage setting sail from New Bedford or the newest startup in Silicon Valley, VC is not just a model of finance that has proven difficult to replicate in other countries. It is a state of mind exemplified by an appetite for risk-taking, a bold spirit of adventure, and an unbridled quest for improbable wealth through investment in innovation.

Tom Nicholas’s history of the venture capital industry offers readers a ride on the roller coaster of setbacks and success in America’s pursuit of financial gain.

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Jacket: Atomic Doctors: Conscience and Complicity at the Dawn of the Nuclear Age, by James L. Nolan, Jr., from Harvard University Press

Remembering Hiroshima

On this day 75 years ago, the United States dropped the world’s first atomic bomb on Hiroshima, Japan. James L. Nolan Jr.’s grandfather was a doctor who participated in the Manhattan Project, and he writes about him in Atomic Doctors: Conscience and Complicity at the Dawn of the Nuclear Age, an unflinching examination of the moral and professional dilemmas faced by physicians who took part in the project. Below, please find the introduction to Nolan’s book. On the morning of June 17, 1945, Captain James F. Nolan, MD, boarded a plane