1) In a one-page paper, answer the following: What is the function of venture capital in the United States and why is it important and/or needed? Describe the seven constants that apply across any market condition or time.
2) In a two-page paper, answer the following questions at the end of Chapter 10 on page 324.
Questions 1, 4 (venture capital related), 7, 8, 12, and 13
Note: Questions 12 and 13 can be combined into one answer.
1.
Why do you think there has been such emphasis on taking successful venture-backed companies public?
4.
Why do you think private equity firms would create good governance in their portfolio companies?
7.
Why do you think venture-backed companies would produce more and higher-quality patents than non-venture-backed companies?
8.
Why would companies backed by more-established venture firms have higher improvement in TFP?
12.
How can government funding help create a private equity industry?
13.
What are three major ways in which government funding can go awry?
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