The Puritans of Venture Capital
This was originally published in Investing 101, a weekly newsletter about the art and science of building and investing in tech companies. To receive Investing 101 in your inbox each week, subscribe here! People like humble beginnings. I think its because they're easier to understand. It's easier to envision Steve Jobs and Steve Wozniak in a garage with a soldering iron and some microchips. It’s much harder to comprehend a $2.9 TRILLION company with $30 billion of cash, 2 billion active devices and 161K employees. The larger something gets, the harder it is to comprehend. There's no one single person who comprehends every aspect of a business the size and scale of Amazon, or Microsoft. They are living, breathing organisms. What's interesting about large, complex organizations is that their marketing rarely even attempts to reflect the size and complexity of the thing. There's no incentive for complex organizations to make themselves easier to understand. The only incentive is to make t
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