If she remains a waitress, she's likely to serve employees of those employers, who would not exist without venture capital. Or, finally, she may find Bob Jaffe relevant to her life because he's still single again, a nice Jewish boy who works too hard. Obviously, Jaffe is relevant to his investors, including Fred Applegate and Art Nicholas, the founders of Nicholas-Applegate Capital Management, businessman Malin Burnham, architect Gordon Carrier, maritime industrialist Art Engel, schmata maven Stan Foster, developer Doug Manchester, Peter Preuss, Forrest Shumway, Bob Lichter, Tawfiq Khoury, Ron Fowler and Gary Sabin, to name a few. But you don't have to be an actor or actress to enjoy a movie. You don't have to be an investor to appreciate venture capitalism.
People truly enjoy success and learn from failure.
So many people look now to how wealth is created, and wealth is created from creating business, not simply from working in established businesses. Capital gains rates are as low as 10 percent now. I think more and more people are looking, people who had not looked 10 or 12 years ago, to create a business. What distinguishes Jaffe, a former Wall Street executive with Goldman Sachs and Salomon Brothers, is his decision to start a San Diego business that invests primarily in San Diego businesses. Some investments have not done well, of course.