I worked in early-stage venture capital, at Union Square Ventures, at the beginning of my career, and I still find the industry fascinating and bizarre. A few of my favorite books about it all
Creative Capital by Spencer Ante
The story of Georges Doriot, the first venture capitalist. Doriot wanted to finance new ideas, and though he didn’t get the model quite right – his fund operated within a public company, for example – he did more than anyone had before.
The Essays of Warren Buffet by Warren Buffet
Collected and categorized snippets of Buffet’s shareholder letters. Buffet doesn’t invest in high-growth, high-technology firms, so his lessons don’t entirely transfer to venture, but his letters are a go-to source for business fundamentals.
Principles by Ray Dalio
These are the principles by which Dalio lives his life, and I think they apply to investing too: conviction in one’s decisions, allowing oneself to ask for help, focusing on iterative improvements, and reflecting honestly.
Venture Deals by Brad Feld and Jason Mendelsohn
Super tactical advice on how early-stage financing works for technology startups in the US in the early 2010s. This, coupled with Venture Hacks, is the best crash course on VC of which I know. I bought this book for my family when I wanted to explain my new job to the.
How a Book is Born by Keith Gesson
It’s a readable explanation of early-stage investing … except for book publishers, not venture capitalists. An interesting, orthogonal take on the process of supporting commercial and creative endeavors.
The New New Thing by Michael Lewis
Jim Clark’s story, written in a breathless sort of way that makes you read the book quicker, lest you miss out.
Technological Revolutions and Financial Capital by Carlota Perez
It’s dense and academic, but it’s become a standard explanation for VC returns and so is worth understanding. Perez explains the two phases of technology: an installation phase (when the infrastructure required by new technologies is built) and a deployment phase (when new technologies come into their own), and describes how those phases intersect with the financial markets.
The Money Game by Adam Smith
An anonymous memoir of stock market trading in the 1960s. This book doesn’t have to do with venture, but I’d love to read a version of it for VC.
Cryptonomicon by Neal Stephenson
Work on an idea in this book, and pitch it as such, and there’s a few VCs who’ll fund you immediately.
eBoys by Randall Stross
the reality television show for VCs of its day, perhaps? The mid to late 1990s were a crazy time … except, as I read this, many sentences could describe now, too.
The New Venturers by John W. Wilson
The story of venture capital as it was just getting going: how New York financiers moved west and the asset class came into its own. The book was written in the late 1970s.
Something Ventured
A movie, not a book, but worth including anyway, as it’s all interviews about the beginning of the venture capital industry.