Got a Google alert this morning notifying me of a cool blog called Itchystartups.com that reviewed my book.
The blog is a news site and resource for entrepreneurs by an Australian fellow named Andy Ley, who describes himself on his Twitter feed as an “Entrepreneur, Investor, Blogger and Adventurer.”
As I wrote on Andy’s blog, I thought he really zeroed in some key themes and ideas that other reviews totally missed.
Here’s the beginning of the review:
Posted by Andy Ley on Monday, February 16, 2009
Creative Capital: Georges Doriot and the Birth of Venture Capital By Spencer E. Ante. Published 2008. Review based on Hardcover.
“The son of a bitch has charmed them all.” And that’s the success of Georges Doriot… A man that began his journey as a foreigner in the U.S. with no one, and died having impacted the lives of everyone he met.
Spencer E. Ante’s portrait of Georges Doriot is sold as the man who pioneered the venture capital industry. But what we don’t realise from the outset, is exactly what sort of man it took to build the venture capital engine that continues to spur possibility and innovation today. Georges was certainly a twentieth-century maverick and Renaissance man.
“A commercial bank lends only on the strength of the past… I want money for things that have never been done before.” Georges Doriot’s life illustrates that by developing the impossible we become creators of the future. His story also shows that as a maverick you need stickability to overcome the efforts from the believers in the old.
The hard work in laying the foundations for venture capital go further than developing innovative investments… Creative Capital teaches us about developing innovative people. Georges Doriot took the view – bet the jockey, not the horse. “Products are less important than ideas, and ideas are less important than people.” Venture capital then started by recognizing the need to nurture and not just the furnishing of money.
“When a man has a stable of horses, and one wins the Grand Prix, do people say ‘What a good stable this man has?’ Or do they say, ‘You should get rid of your winner and develop the others.” Georges Doriot believed in fully developing investments and his success in capitalizing on the greater possibility rather than immediate returns was well recognized with his firm’s landslide returns.