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Vishu Bheda
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Medial • 2m
Sequoia founder Don Valentine on the original mission of venture capital: In the 1990s, the internet boom made it look like anyone could make money by investing in startups. But many forgot what venture capital is really about: building strong, lasting companies. In the 1970s, early investors like Don Valentine and Arthur Rock focused on helping companies grow for years. They invested small amounts and stayed involved to guide these businesses. Compare that to 2000, when billions were thrown into random ideas, leading to a "get-rich-quick" mindset. The problem today is that many investors focus on quick gains, chasing trends like website traffic or market share. This hurts real innovators who want to create something meaningful. But there’s good news. Patient investors and hardworking founders, especially immigrant entrepreneurs, are building companies that last. For example, Cisco and Intel, supported by long-term thinking, are now worth nearly $900 billion combined. True venture capital is about helping businesses grow sustainably and creating value for everyone—founders, employees, and society. It’s not about quick money but lasting impact.
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