Scott Kirsner wrote a great story about Doriot and my book Creative Capital in today’s Boston Globe. He covers the launch of the book and the key arguments I make in it; he chronicles Doriot’s influence; and he even mentions that American Research and Development still exists! Click here to read the whole 1162-word piece in his Innovation Economy column.
I’m totally pumped since this is the first major newspaper to write about the book–and because the Boston Globe is the perfect paper to break the story. When Doriot was in his heyday during the 40s/50s/60s operating out of the John Hancock Building, the Globe wrote about him quite often.
Kirsner’s piece is called “Venture capital’s grandfather: Georges Doriot helped lay groundwork for 128 tech cluster.”
Here’s the beginning of the story:
“Without him, Digital Equipment Corp. might never have gotten started, and the electronics-testing company Teradyne Inc. might not have survived beyond infancy.
He backed an oil rig-manufacturing company run by George H.W. Bush. The current Secretary of Energy, Samuel Bodman, once worked for his Boston firm. And a half-century ago, he put $50,000 into a company called Ionics Inc. that was trying to find new ways to desalinate seawater; GE bought the company in 2004 for $1.1 billion.
Georges Doriot is the forgotten grandfather of the modern venture capital industry. His Boston firm, American Research and Development, or ARD, helped lay the foundation for the Route 128 technology cluster.
“After World War II, all the textile mills had gone away, and war time production was going away,” says Spencer Ante, a Business Week editor who has written a new book on Doriot, “Creative Capital,” that is hitting stores this week. “Doriot and ARD were really trying to revive the New England economy after the war.”
HOW TO BUY CREATIVE CAPITAL: To pre-order Creative Capital and get a 34% discount, click here and go to Amazon