You may not have heard of General Georges Doriot. I had not until today when I read this post by Fred Wilson. He started the VC industry in Boston after the second war. Thanks Fred!
It is a great story. And it is instructive.
… venture capitalists were like the matchmakers of the modern economy. They would marry money with people and their crazy, new ideas. And the result would be a stronger country with a growing supply of well-paying jobs.
We tend to forget that the VC business is about connecting people, not just making money. And we tend to forget the importance of matchmaking in the entrepreneurial ecology.
Here is the thing — while the VC industry is pretty well developed, that does not mean that our matchmaking capacity has maxed out. I do not believe that this is true.