Reading "Venture Capital, Sponsor of Innovation"

I've worked at companies that were once "startups" for 20 years. As an individual, it was an attempt to build a life while being at the edge of venture capitalism. These companies once used creation and innovation as the main ingredients for sales and stock price increases, preaching change for a better world. Every year, when attending company-wide events, I felt inspired by the mission and sense of purpose. However, at some point, I couldn't shake off the feeling that all my time and effort was being used to solidify the system through higher sales.

And people wear down at that point.

"Venture Capital, Sponsor of Innovation," which even has a touch of humanistic fragrance, was an excellent introductory book. I pay my respects to the author's ability to explain somewhat complex content easily and gradually. In fact, I haven't seen many experts who can easily explain the basic concepts of corporate finance.

"Venture capitalism makes money through creation and innovation. The goal is to change the world for the better."

It's a thrilling definition. However, it's also a definition that's very easily pushed aside in terms of priority. Humans are weak, and everyone has uncomfortable periods in their lives. California, which I visited two years ago, had abundant sunshine, fresh and dry air, cheap and good wine. It was a neighborhood where big money had nowhere to go. I somewhat understood the brightness and optimism of the venture capital industry born there.

I once introduced a software financing program as a new business within the company. Sales representatives joked that I was playing with money, but now I understand that that joke defined the essence of the business. The reason I don't regret playing with money is because I know that sometimes I provided a timely blood transfusion when needed.

The nature of the business is to hope that 0.5% of companies will grow 100 times. I wonder if that kind of leisure and optimism really works in Europe or Asia. The Korean VC CEO I met last week said it was difficult to penetrate the U.S. or Singapore market focusing on tech. They are now focusing on cultural content. I wonder if Korea excels in culture and people. Or is it because only companies optimized for the Korean market are growing? The maximum number of potential customers is the upper limit of a startup's value. How can a company optimized for the Korean market grow 100 times?