Venture capitalists sell themselves as heads in Silicon Valley. They are talent spotters, cowboys, risk takers; they support those who are willing to go against the system and they say they deserve to be well rewarded and lightly taxed for doing so.
This predominantly male, mostly white financial corner has helped software companies grow rapidly and generate huge amounts of money for a shrinking number of Americans — companies like Google , Facebook, Uber and Airbnb.
But they don’t create many jobs for ordinary people, especially compared to the companies or industries they disrupt. And everything slowed down. Lately, venture capitalists have found fewer and fewer ideas that fit their preferred model. Read full story.
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