An foresight manifest by Peter Thiel colleague

WHAT HAPPENED TO THE FUTURE?

By Bruce Gibney

A.

INTRODUCTION

We invest in smart people solving difficult problems, often difficult scientific or engineering problems. Here’s why:

The Problem

We have two primary and related interests:

1. Finding ways to support technological development (technology is the fundamental driver of growth in the industrialized world).
2. Earning outstanding returns for our investors. ¹

From the 1960s through the 1990s, venture capital was an excellent way to pursue these twin interests. From 1999 through the present, the industry has posted negative mean and median returns, with only a handful of funds having done very well. What happened?

http://www.foundersfund.com/the-future