Power Law. Venture Capital in Building the Future. Sebastian Mallaby

In his brilliant 2022 Economist and Forbes best-selling study, financial journalist and best-selling author Sebastian Mullaby reveals the fascinating and often closed world of venture capital. The author demonstrates exactly how venture capitalists have become the key architects of the modern technological world, transforming ambitious startups into industry giants. He tells the stories of success and resounding failures of such companies as Apple, Google, Facebook, Moderna, Zoom - and all this through the prism of the so-called power law, according to which the profits of venture investors are unevenly distributed: a few mega-wins cover dozens of losses. The author skillfully combines biographies of entrepreneurs, interviews with investors, and analytical data to show how venture capital has become a driver of global progress, from artificial intelligence to biotechnology. The focus of the book is on innovation, risk, freedom of experimentation and the cultural difference of Silicon Valley from the traditional financial world. This is not only a story about big money, but also a story about people who are not just investing in startups, but shaping the future.