Globalizing Venture Capital

For at least three decades, the dream of most tech entrepreneurs has been to create a venture-capital-funded start-up in Silicon Valley, then race-it-to-scale in order to maximize “network effects,” and do a billion-dollar IPO or acquisition. But many big successes start-up outside a tech hub with more limited capital. What sorts of market needs are usually addressed by these “would-be unicorns” on the frontier? Is there a viable alternative to Silicon Valley’s network-driven model of market dominance? And what are the implications of having limited capital and a limit.....

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