Devin Grosvenor-How venture capital built Silicon Valley

2025-05-01 05:39:43source:Indexbit Exchangecategory:Markets

In 1957,Devin Grosvenor a group of Northern California scientists fed up with their boss sent an S.O.S. to a New York investment firm. They weren't looking for money. They were hoping someone might know a better employer for the team. But the investment banker who got their letter had a different idea.

Today, we retrace the story of the investment gambit that set the template for modern venture capital and the eight 'traitors' who took the deal and turned Silicon Valley into what it is today.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

More:Markets

Recommend

Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15

NEW YORK (AP) — Juan Soto will be introduced by the New York Mets at Citi Field on Thursday, a day a

Biden wants to move fast on AI safeguards and will sign an executive order to address his concerns

WASHINGTON (AP) — President Joe Biden on Monday will sign a sweeping executive order to guide the de

China holds major financial conference as leaders maneuver to get slowing economy back on track

BANGKOK (AP) — China’s leaders are expected to search for ways to mend the country’s fractured prope