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How are you defining "startup"? "Startup" for most people has technology connotations. To quote PG: "Startups are a comparatively new phenomenon. Fairchild Sem
by apsec112 16y ago
How are you defining "startup"? "Startup" for most people has technology connotations. To quote PG:
"Startups are a comparatively new phenomenon. Fairchild Semiconductor is considered the first VC-backed startup, and they were founded in 1959, less than fifty years ago."
Clearly, he's referring to tech startups specifically. If you consider any small company that becomes big a startup, then Rockefeller and Carnegie made their wealth in startups.
- yummyfajitas 16y agoI can't imagine describing either Renaissance (founded by Simon) or DE Shaw as anything but tech companies. They use technology as a competitive advantage in investments, much like Amazon uses technology as it's competitive advantage in retail.