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: The Cabinet: George Washington and the Creation of an American Institution, by Lindsay Chervinsky, from Harvard University Press

Why You Should Participate in an (Online) Book Club

Online book clubs can be a rewarding way to connect with readers, Lindsay Chervinsky discovered, when she was invited to join one to discuss her book, The Cabinet: George Washington and the Creation of an American Institution. Since my book was published in April 2020, I’ve discovered that my work appeals to three main audiences. First, the general readers who are enthusiastic about history, attend virtual events, and tend to support local historic sites. Second, readers who are curious about our government institutions and the current political climate and are looking for answers about its origins. And third, history, social studies, and government teachers