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Peter Thorp, General Partner

The companies of the US economy hold two types of resources crucial to growth: intellectual capital and financial capital. These two different types of capital depend upon each other. It takes money to hire the best talent, and it takes the best talent to further increase monetary results. A healthy economy has an equal distribution of these two types of capital across companies, industries, and geographic locations.  In the modern US economy, and especially in its tech sector, these two resources are being further driven into granular locations. The intellectual capital is further compressing itself into the Silicon Valley region and the companies based there are stashing their profits out of this country entirely in non-taxable offshore accounts.

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Peter Thorp, General Partner

B7 General Partner Peter Thorp was an early employee of Mosaic, the company that became Netscape and started the Internet revolution. This is his account of the launch of Netscape and the 25 months that sat in between its initial rejection and eventual huge success.

Day 1: The Submission
Thursday, July 1, 1993

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Peter Thorp, General Partner

The idea of Venture Capital is as old as the western world. In the 1480’s Columbus traversed Europe, pitching the idea of a new trade route to the East. His edge lay in his preemptive strike, gaining the first-mover advantage into an untapped market. For an endeavor like this, Columbus knew that above all else his most basic and integral necessity was money. He was a man with an idea, an entrepreneur with a vision, lacking the means. He knew he required a backer; a Venture Capitalist. Columbus built a business plan, ran CAP tables, presented his powerpoints, created demand, raised awareness, pre-sold to test the market, etc… Columbus knew if a popular VC lead, others would follow. Therein lies the trick, asking the questions: who leads, who follows, is this the right VC? Back in the 15th century the VC’s took a more medieval approach to corporate war, engaging in battles, love and lust, pirating, arranged marriages, undermining, spying—anything to gain an edge.

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Justin Langseth, CEO ZoomData

Art has always been a means of communication, reflection, persuasion, storytelling, and interpretation.  Artists use their imagination to create visual representations of the world, both literal and abstract.  The earliest art, prehistoric cave paintings, used simple representations, such as a cross to represent a man, and a triangle for a woman.

As the caveman’s charcoal and manganese oxide gave way to modern paint, and more recently to digital bits, visual art has become more refined.

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