When the economy was booming and dot-coms were flying high, venture capitalists were admired as impresarios of innovation. Then the market tanked, start-ups fizzled, and those same deal-makers were rebuked as predators out for a quick score. So which portrayal is accurate? Where is this much-hyped industry heading? And what will it mean for the future of innovation in the global economy? In this definitive book, industry experts Paul Gompers and Josh Lerner provide the first cool-headed explanation of the venture capital industry and the role it plays in our economy. They underscore that, regardless of the economic conditions, innovation is incredibly difficult to finance, take to market, and translate into value. While venture capital has evolved to address these problems - the industry has fueled innovation, economic growth, and wealth creation for decades - features of the venture industry have left it vulnerable to boom-and-bust cycles.In the near future, say the authors, the industry must transform dramatically, with important implications for industry players and the entrepreneurs and organizations they serve. Drawing from compelling research and industry "war stories," Gompers and Lerner present a series of practical frameworks for understanding the relationships among venture capital, innovation, and entrepreneurial success. They demystify how the venture capital world operates, and outline the opportunities and obstacles faced by all players in this evolving arena.They explore: the problems entrepreneurs encounter in securing financing, and how the venture capital model can help innovators to resolve them; how venture capitalists can effectively pursue promising opportunities while building a sustainable franchise; and, how corporations, nonprofits, and government institutions can harness the power - and avoid the pitfalls - of the venture capital model when applying it in their own sectors. Whether the industry is enjoying an incredible growth spurt or weathering an economic slowdown, readers will find this book an immensely practical guide to leveraging the venture capital model to turn innovation into value. Paul A. Gompers is a Professor of Business Administration and a Director of Research at Harvard Business School. Josh Lerner is a Professor of Business Administration at Harvard Business School. Both authors live in the Boston area.
Book Description
Frequently Bought Together
Editorial Reviews
From the Back Cover
"Gompers and Lerner have written the ultimate A to Z book of venture investing. If you want the definitive book that explains how venture capital works and why it is so important to our economy, this is it."
-Arthur Rock, Venture Capitalist
"Gompers and Lerner give valuable historical accounts coupled with insightful observations about the future of an industry that is still in its infancy-but growing up fast."
-Peter O. Crisp, Founder and former Managing Partner, Venrock Associates
"Gompers and Lerner provide a broad overview of the venture capital industry, offering valuable insights for anyone from seasoned practitioners to interested market observers. Richly illustrated with real-life examples, The Money of Invention fulfills a critical need with its treatment of the past, present, and future of an important factor in the world economy."
-David F. Swensen, Chief Investment Officer, Yale University, and Author of Pioneering Portfolio Management
About the Author
Paul A. Gompers is a Professor of Business Administration and a Director of Research at Harvard Business School.
Product Details
Would you like to update product info or give feedback on images?
|
More About the Author
Discover books, learn about writers, read author blogs, and more.
Customer Reviews
|
Share your thoughts with other customers:
|
||||||||||||||||||||||
|
Most Helpful Customer Reviews
4 of 6 people found the following review helpful:
5.0 out of 5 stars
Authoritative and Well Written,
By Greg T. Smith (Cincinnati, Ohio) - See all my reviews
This review is from: The Money of Invention: How Venture Capital Creates New Wealth (Hardcover)
Gompers and Lerner have written the best book on venture capital thus far. The authors have done a great service to entrepreneurs, VCs, and the entire business community with this work. It is written, organized, and executed at perfect pitch and should be read by anyone considering taking the plunge into entrepreneurship, pursuing a career as a VC, or simply wanting to know more about the complexities and true nature of venture capital. As venture capital gradually becomes more plentiful in the next 24 months, reviewing this work should be required of serious-minded professionals.
0 of 4 people found the following review helpful:
5.0 out of 5 stars
Best VC book ever written!,
By
This review is from: The Money of Invention: How Venture Capital Creates New Wealth (Hardcover)
This well written book gives you the whole story: What's in for entrepreneurs raising funds, for VC investors, and how the industry creates value as a whole. It will give you insights that may be valuable if you haven't been a player or gone through financing rounds before. A must read!
1 of 9 people found the following review helpful:
5.0 out of 5 stars
Absolutely Phenomenal Book,
By Wayne Vaughan (Hartford, CT) - See all my reviews
This review is from: The Money of Invention: How Venture Capital Creates New Wealth (Hardcover)
I can't say enough good things about this book! Gompers and Lerner provide a crystal clear explaination of the role venture capital plays in the economy and offers an insightful view of how venture capital will change in the future.Anyone who is launching a new venture should bypass the "How To Write A Business Plan" books and pick up a copy.
Share your thoughts with other customers: Create your own review
|
|
Inside This Book
(learn more)
First Sentence:
Innovations fail to create value when they cannot attract the resources required to develop them. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
many venture groups, corporate venture programs, independent venture firms, venture capital revolution, venture capital success, venturing effort, convertible preferred equity, venture industry, venture capital sector, venture capital process, venturing programs, venture capital activity, venture capital organizations, portfolio firms, soft assets, patenting rates, private placement memoranda, venture staff, venture capital programs, venture capital model, limited partnership structure, venture organizations, experienced venture capitalists, venture investing, venture funds Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Silicon Valley, European Venture Capital Association, Hong Kong, Latin America, North America, Charles River, Apple Computer, Asset Alternatives, New York, Year Source, Battery Ventures, Cisco Systems, Tutor Time, United Kingdom, Bang Networks, Benchmark Capital, Department of Energy, Engineering International Venture Capital Success, Federal Express, Kleiner Perkins Caufield, Networks Northwest, Oak Ridge, Skills On-line, The Venture Capital Economy New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Innovations fail to create value when they cannot attract the resources required to develop them. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
many venture groups, corporate venture programs, independent venture firms, venture capital revolution, venture capital success, venturing effort, convertible preferred equity, venture industry, venture capital sector, venture capital process, venturing programs, venture capital activity, venture capital organizations, portfolio firms, soft assets, patenting rates, private placement memoranda, venture staff, venture capital programs, venture capital model, limited partnership structure, venture organizations, experienced venture capitalists, venture investing, venture funds Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Silicon Valley, European Venture Capital Association, Hong Kong, Latin America, North America, Charles River, Apple Computer, Asset Alternatives, New York, Year Source, Battery Ventures, Cisco Systems, Tutor Time, United Kingdom, Bang Networks, Benchmark Capital, Department of Energy, Engineering International Venture Capital Success, Federal Express, Kleiner Perkins Caufield, Networks Northwest, Oak Ridge, Skills On-line, The Venture Capital Economy New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 26
books:
See all 26 books this book cites
9
books
cite this book:
See all 9 books citing this book
- Venture Capital and Public Offering Negotiation (With Supplement) by Michael J. Halloran on 4 pages
- Venture Capital by Levin in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Venture Capital Cycle by Paul Gompers in Back Matter (1), and Back Matter (2)
- Financial Management (Harcourt Brace Jovanovich College Outline Series) by H. Kent Baker in Back Matter (1), and Back Matter (2)
- Corporate Finance (Frameworks Series) by Alan Hill in Back Matter
See all 26 books this book cites
- Deep Smarts: How to Cultivate and Transfer Enduring Business Wisdom by Dorothy Leonard in Back Matter (1), and Back Matter (2)
- Open Innovation: The New Imperative for Creating And Profiting from Technology by Henry William Chesbrough in Back Matter (1), and Back Matter (2)
- Open Innovation: The New Imperative for Creating and Profiting from Technology by Henry William Chesbrough in Back Matter (1), and Back Matter (2)
- Beyond the Core: Expand Your Market Without Abandoning Your Roots by Chris Zook in Back Matter
- The Internationalisation of Asset Ownership in Europe by Harry Huizinga on page 244
See all 9 books citing this book
Books on Related Topics
(learn more)
|
What Other Items Do Customers Buy After Viewing This Item?
Tags Customers Associate with This Product(What's this?)Click on a tag to find related items, discussions, and people.
|
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
