Sebastian Mallaby: What is venture capital good for?

Sebastian Mallaby is a journalist and author. His latest book, The Power Law, is an exploration of the history and impact of venture capital that seeks to explain how VCs see the world and why it matters. In this conversation, we discuss why VC is so different from any other asset class, why VC networks should be considered a third core institution of capitalism alongside firms and markets, and whether VC has a positive impact in the world.You can order the Power Law here.-----------------Thanks to Cofruition for consulting on and producing the show. You can learn more about Entrepreneur First at and subscribe to my weekly newsletter at

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Matt Clifford, co-founder of Entrepreneur First, interviews the people behind some of the world's most important ideas. We explore in-depth some of the fastest-changing and most impactful areas of life, from technology to geopolitics and scientific progress to entrepreneurship. Guests include founders, investors, academics and journalists working and thinking at the frontier of these topics.Subscribe to the free weekly newsletter at