2025-01-24
1 小时 19 分钟You're listening to tip.
Hey everybody, welcome to the Investors Podcast.
I'm your host Clay Fink.
On today's episode I'm going to be chatting about this book called the Power Venture Capital and the Making of a New Future by Sebastian Malaby.
Buffett and Munger have long taught us to be skeptical of the world of venture capital and private equity, but this book really helped me shape my view on the critical role that venture capital plays in our modern day economy and how venture capital is helping shape the future of technology.
The book outlines the history of the venture capital industry and the investing strategies of the top performing venture capitalists such as Peter Thiel and Sequoia Capital, as well as the importance of the Power Law in generating returns for shareholders.
Without a fundamental understanding of the Power Law, you are doomed for failure in the world of vc as just a few companies are bound to generate a lion's share of the returns for the top funds.
During this episode I'll cover the early days of venture capital, a deep dive into the Power Law phenomenon, why venture capitalists actively look to invest with the oddballs and misfits, how the founders of Google helped shift the bargaining power from the venture capitalists to the founders in negotiating terms, Peter Thiel's investing philosophy in the Founders Fund, why early stage companies have been delaying the process to enter the public markets and so much more.
With that, I really hope you enjoyed today's discussion on the Power Law by Sebastian Malaby.
Since 2014 and through more than 180 million downloads, we've studied the financial markets and read the books that influence self made billionaires the most.
We keep you informed and prepared for the unexpected.
Now for your host Play Fink.
So on today's episode I'll be reviewing the Power Law, Venture Capital and the Making of a New Future by Sebastian Malaby.
This book of course talks about the Power Law and interestingly, how most innovations don't come from the traditional experts.
Elon Musk was not an electric car person before he started Tesla.
Nor would any rational person had expected space innovation to come from SpaceX.
Media innovation did not come from Time magazine or CBS.
It came from YouTube, Twitter and Facebook.
Retail innovation did not come from Walmart, it came from Amazon.
Now our show largely focuses on value investing and I wanted to cover this book to help cover our blind spots as value investors.