The Money of Invention: How Venture Capital Creates New Wealth

Contrary to popular belief, the venture capital revolution is far from over. In fact, claim authors Paul Gompers and Josh Lerner, venture capital will continue to dramatically alter the American economic landscape. In their new book, The Money of Invention, they provide a definitive analysis of this powerful and unique industry, and offer a meaningful framework for understanding the relationship between venture capital and entrepreneurial success. The Money of Invention will be an important book to all managers who wish to capture value from innovation. The authors offer actionable advice for managers of venture organizations, for entrepreneurs, and all managers who seek returns from innovation in an environment that disdains hype and rewards careful, original thought and dogged execution. Gompers and Lerner place the overheated atmosphere of recent months in context, exploring the dynamics today's economy within a longer, more compelling narrative of entrepreneurs and money. In explaining why venture capital is the solution to the problem of financing entrepreneurial firms, the authors elucidate the structure and functioning of the venture industry. Readers will understand precisely how venture capital drives innovation, economic growth, and job creatio