"Cost of Experimentation and the Evolution of Venture Capital" presented by Matthew Rhodes-Kropf

Michael Ewens and Ramana Nanda and Matthew Rhodes-Kropf

We study adaptation by Financial intermediaries as a response to tech-nological change in the context venture-capital finance. Using a theoretical model and rich data, we are able to both document and provide a framework to understand the changes in the investment strategy of VCs in recent years-……