Abstract This position paper introduces assimilation funds as a new approach to invest capital in startups. Instead of funding startups and hoping for extraordinary returns, an assimilation strategy recommends diversifying early stage capital across the strategic...
I updated this post for Enterprising Investor. See it at: http://blogs.cfainstitute.org/investor/2014/10/23/is-venture-capital-a-giffen-good/ Economist Sir Robert Giffen stumbled upon a curious thing: Low quality foods experienced rapidly falling prices and eventually...