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If you and I both think that Apple is a great stock to buy, we can both decide to buy it. Of course, if one of us is a really big buyer, the act of buying it might move the price such that my price might be different from yours (depending on which of us gets there first). But regardless, the genera…

I moved back to Silicon Valley to work for Lehman Brothers. Lehman, of course, was later a victim of the global financial crisis, suffering an ignominious bankruptcy in September 2008. My job at the time, in addition to being an all-around grunt, was to help life sciences companies raise capital, g…

Entrepreneurship is inherently a risky endeavor, but it is absolutely essential to the American economy. Successful venture-backed companies have had an outsize positive impact on the US economy. According to a 2015 study by Ilya Strebulaev of Stanford University and Will Gornall of the University …

But there are other, larger lessons to glean as well. As you’ll learn in this book, most venture firms invest money on behalf of larger institutional asset managers, like university endowments and retirement funds. Most of these asset managers use a formula to determine how much money to allocate t…