The following article reviews various academic and industry studies on the historical performance of venture capital funds.
Read MoreIn his seminal 1937 article on the Nature of the Firm, Nobel prize-winning economist Ronald Coase posited that the size and boundaries of companies are defined by transaction costs - that is how expensive it is to outsource various functions.
Read MoreLegend has it that in 1950, Frank McNamara, a businessman from New York, forgot his wallet when he went to a restaurant for dinner. This embarrassing episode sparked in him the idea of creating a card which he could use to pay for meals anywhere. A year later, he would return to the same restaurant and pay with his newly-created cardboard Diners Club card, the first multi-purpose charge card.
Read MoreStephen Johnson, the celebrated author and historian of technology, recently wrote: “Wonderland: How Play Made the Modern World.” In it, he examines the origins of many aspects of our modern existence and economy, tracing them to the human pursuit of pleasure and delight.
Read MoreIn 2002, Jeff Bezos famously decreed that all Amazon teams' software should communicate with each other via “API’s” (Application Programming Interfaces) – sets of well-defined rules (or “protocols”) used by different web sites and companies to talk to each other. It is said that Bezos insisted “anyone who doesn’t do this will be fired.”
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