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2014 | OriginalPaper | Chapter

7. Do Experts Know What Growth is? Two Studies on Perception

Authors : Malin Brännback, Alan L. Carsrud, Niklas Kiviluoto

Published in: Understanding the Myth of High Growth Firms

Publisher: Springer New York

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Abstract

One of us remembers sitting in a meeting at Stanford University in 2007 with a group of managing partners of a half dozen of Silicon Valley’s leading venture capitalist (VC) firms. The topic of the discussion was how VCs went about picking winners for their portfolios. One member of the audience asked, quite naively, if working with previous firms had helped them to improve their hit rate for finding stars. The reply was that the success rates had not changed at all. The VC went on to explain, he felt this was due to the differences in technology in the firms. No one challenged that the problem could have been the demand by the VC for high-growth strategies in their portfolio firms. If so-called experts cannot get better at picking winners then this all starts to look like gambling and the deck is stacked against everyone.

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Metadata
Title
Do Experts Know What Growth is? Two Studies on Perception
Authors
Malin Brännback
Alan L. Carsrud
Niklas Kiviluoto
Copyright Year
2014
Publisher
Springer New York
Book
Understanding the Myth of High Growth Firms

Print ISBN: 978-1-4614-9456-0

Electronic ISBN: 978-1-4614-9457-7

Copyright Year: 2014

DOI
https://doi.org/10.1007/978-1-4614-9457-7_7

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