What IS Venture Capital? Does it really run the tech world?

Entrepreneurs like Elon Musk and products like Chat GPT have been fueled by Venture Capital. In fact, some argue that Venture Capital has shaped our modern technology more than any other entity. But what is Venture Capital and what makes it unique?  This week, UnTextbooked producer and college student Oliver Wang talks to author Sebastian Mallaby to learn about the shadow history of venture capital. What once started as a way to liberate eight scientists from a difficult boss now is a medium to inspire innovation across the world. Sebastian Mallaby is the author of “The Power Law: Venture Capital and the Making of the New Future”. He is a Senior Fellow at the Council on Foreign Relations.  Listen to new episodes every Thursday. Follow the show on Spotify, Apple podcasts, Amazon Music, or wherever you listen. That way you never miss an episode.  Love the show? Consider writing us a review on your podcast app or telling a friend about the show. This really helps us spread the word.  Learn more about the podcast at UnTextbooked.com.  Show notes:  (0:00) - What is Venture Capital?  (4:13) - Arthur Rock and the Origins of Fairchild Semiconductor (9:36) - What makes Venture Capital Unique (12:24) - The Power Law and Risks in Venture Capital  (16:23) - Flaws in Venture Capital, Bubbles, and Disruption (20:19) - Venture Capital Investments in China (24:16) - Outro