num_pages: 496
description: Shortlisted for the Financial Times Business Book of the Year Named a Best Book of 2022 by The EconomistA gripping fly-on-the-wall story of the rise of this unique and important industry based on extensive interviews with some of the most successful venture capitalists. - Daniel Rasmussen Wall Street JournalA must-read for anyone seeking to understand modern-day Silicon Valley and even our economy writ large. -Bethany McLean The Washington PostA rare and unsettling look inside a subculture of unparalleled influence. Jane MayerA classic...A book of exceptional reporting analysis and storytelling. Charles DuhiggFrom the New York Times bestselling author of More Money Than God comes the astonishingly frank and intimate story of Silicon Valleys dominant venture-capital firmsand how their strategies and fates have shaped the path of innovation and the global economyInnovations rarely come from experts. Elon Musk was not an electric car person before he started Tesla. When it comes to improbable innovations a legendary tech VC told Sebastian Mallaby the future cannot be predicted  it can only be discovered . It is the nature of the venture-capital game that most attempts at discovery fail but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business all of Silicon Valley the wider tech sector and by extension the world. In The Power Law  Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all timethe key figures at Sequoia Kleiner Perkins Accel Benchmark and Andreessen Horowitz as well as Chinese partnerships such as Qiming and Capital Todayinto a riveting blend of storytelling and analysis that unfurls the history of tech incubation in the Valley and ultimately worldwide. We learn the unvarnished truth often for the first time about some of the most iconic triumphs and infamous disasters in Valley history from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber. VCs relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius and companies seen as potential unicorns are given intoxicating amounts of power with sometimes disastrous results. On a more systemic level the need to make outsized bets on unproven talent reinforces bias with women and minorities still represented at woefully low levels. This does not just have social justice as Mallaby relates Chinas homegrown VC sector having learned at the Valleys feet is exploding and now has more women VC luminaries than America has ever had. Still Silicon Valley VC remains the top incubator of business innovation anywhereit is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs game The Power Law helps us think about our own future through their eyes.
language: English
title: The Power Law: Venture Capital and the Making of the New Future
publisher: Penguin Press