A Quote by Juan Enriquez
Venture capital is about .02% of the U.S. economy invested, and it accounts for 11% of total U.S. jobs and 21% of U.S. economic output. And the reason why is because these companies can get very big, very quickly.
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I know the difference between venture capital[ism] and vulture capitalism. Venture capitalism is a good thing, comes in, gives that gap funding to help these companies get off and get started creating jobs, and work. But Mitt Romney and Bain Capital were involved with what I call vulture capitalism. And they walked into Gaffney and took over that photo album company for no other reason than to basically pick the bones clean. And those people lost their jobs.
One way to quantify the immigrant contribution to the overall economy is to measure their share of the U.S. economic output. One such examination for the years 2009-2011 found that immigrants contributed 14.7 percent of the total economic output.
It is clear as you look at the team why Data Point Capital has so quickly become one of the premier venture capital firms. I look forward to adding to the firm's very bright future.
The financial doctrines so zealously followed by American companies might help optimize capital when it is scarce. But capital is abundant. If we are to see our economy really grow, we need to encourage migratory capital to become productive capital - capital invested for the long-term in empowering innovations.
Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.
To get a job as a blackjack dealer, you have to be able to count very quickly. Obviously, you need to do at least math, adding up to 21 very quickly.
The impact of QE on generating more lending by Wall Street to Main Street and in generating more employment and increasing overall investment in the economy is quite modest. QE probably limited the initial collapse of the economy in 2008, and likely had a very small positive impact on economic growth, but its broader impact on jobs and growth in the economy seems not very big.
I like most of the venture capitalists I know; they're smart, well-intended guys who genuinely enjoy helping entrepreneurs succeed. And I love venture capital and investment capital of all categories - its economic impact is proven. The more of it the better.
I do read very, very quickly. I do process data very quickly. And so I write very quickly. And it is embarrassing because there is a conception that the things that you do quickly are not done well. I think that's probably one of the reasons I don't like the idea of prolific.
If, for example, each of us had the same share of capital in the national total capital, then if the share of capital goes up it's not a problem, because you get as much as I do. The problem is that capital in capitalist countries is very heavily concentrated, especially financial capital. So then if the share of income from that source goes up, that actually exacerbates inequality.
China has made important contribution to the world economy in terms of total economic output and trade, and the RMB has played a role in the world economic development. But making the RMB an international currency will be a fairly long process.
I'm amazed by the potential of more companies employing integrated philanthropic initiatives at earlier stages in their life cycle. What if this were done on an even more massive scale? Consider what would happen if a top-tier venture-capital firm required the companies in which it invested to place 1% of their equity into a foundation serving the communities in which they do business.
Techstars has done a great job accelerating and providing venture capital to the most promising companies to make the biggest long-term economic impact.
When we talk about economic growth, we're not talking about bringing a bunch of companies in that can make a bunch of bucks and hope they spend 'em in our city. We're talking about creating jobs, creating new companies and then we move from there to talk about cooperatives which can become some of those jobs, some of the solidarity economy where we can begin to band together people so they'll understand that a job is not a single individual affair but a collective affair.
We invite American companies looking to raise capital to list on the Bahrain Stock Exchange. The region has a liquidity oversupply approximating $1 trillion and this pool of capital can be tapped into by creative American companies. The next Facebook may very well get funded on the BSE.
The reason that I proposed health savings accounts for everybody starting at birth, is because you very quickly accumulate an amount of money that you can use for your interactions with those health care providers.
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