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

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.

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Jacket, Bored, Lonely, Angry, Stupid: Changing Feelings about Technology, from the Telegraph to Twitter, by Luke Fernandez and Susan J. Matt, from Harvard University Press

Technology, Biology, Chronology

Fears and anxieties about the latest technologies are nothing new, say Luke Fernandez and Susan J. Matt, authors of Bored, Lonely, Angry, Stupid: Changing Feelings about Technology, from the Telegraph to Twitter. But neither is the fact that they often provide new ways for us to connect and socialize. Mark Twain is rumored to have said “History doesn’t repeat itself, but it often rhymes.” Of late, much press has been spent on uncovering those rhymes, focusing on the similarities between the current epidemic and past ones. These stories underscore the lesson that progress hasn't allowed us to escape the suffering of earlier