Evidence receipt / belief
Published · transcript-backedSpeaker unverified: belief
30 Oct 2023 Acquired Charlie Munger
“By and large, having bumped into a lot of people in the businesses with venture capital financing, I would say the ordinary rule is that people in the business doing the work, more often than not they hate the venture capitalists.”
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- Speaker
- Speaker unverified
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- Not verified from this transcript
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- belief
- Recorded
- 30 Oct 2023
- Publisher
- Acquired
- Episode
- Charlie Munger
Transcript context
…I'm curious, back to this point of the role of venture capital in a society, if you could design a perfect system to fund innovation. I think it's a very legitimate business if you do it right, if you want to give the right people the power, nurture them, and help them. You know a lot about the tricks of the game, so you can help them run their business, yet not interfere with them so much they hate you. By and large, having bumped into a lot of people in the businesses with venture capital financing, I would say the ordinary rule is that people in the business doing the work, more often than not they hate the venture capitalists. They don't feel they are a partner trying to help the company, they’re taking care of themselves and so on and so on. They don't like them. How could it work differently?…
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