William Mougayar is the author of “The Business Blockchain” and a board advisor to, and investor in, various blockchain projects and startups (See: Disclosures).
In this opinion piece, Mougayar discusses the early days of venture capital, drawing parallels and comparisons to the state of cryptocurrency and token-based investing taking shape today.
Investor Fred Wilson posted the other day about General Georges Doriot, giving us a timely reminder of his work as the ‘father of modern venture capital’.
The post inspired me to revisit Doriot’s story as told in the book “Creative Capital: Georges Doriot and the Birth of Venture Capital”, published in 2008 and written by Spencer Ante.
In doing so, I was struck by the similarities between what happened in the 1940s and what is happening now with cryptocurrency, specifically how these early venture capitalists were pushed to break the regulatory mold in order to allow something new to flourish.
Following World War II, Doriot founded the world’s first public venture capital firm, American Research and Development Corporation (ARDC), but it wasn’t greeted with the fanfare we associate with the modern VC firms of today.
“The idea of venture capital was so new that the founders of
Read more ... source: CoinDesk
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