This week, we speak with Albert Wenger, Managing Partner at Union Square Ventures. He co-founded 5 companies and was President of del.icio.us thru the company’s sale to Yahoo and was an angel investor in Etsy and Tumblr. Wenger is the author of World After Capital, describing the shift to a “Knowledge Age” and its implications for businesses & society.
We discuss how Union Squares operates and how the venture scene has migrated from Silicon Valley to New York City and the rest of the country. USV is an early seed investor that puts capital at risk very early in a company’s lifespan. This means that the odds are high that nearly all of their companies will fail, but it also suggests that its winners will be 100X or better.
He explains why we need a wartime footing to confront the challenges of climate change. His favorite data point is