# Venture Capital Built Silicon Valley **URL:** **By** Margaret O'Mara, Spencer Ante, Paul Matzko **Published:** February 6, 2020 --- Innovation might seem magical, but magic comes with a steep price tag. Venture capital provided a superior way of funding entrepreneurship than what existed before. While fans of the show _Silicon Valley_ might not have much regard for the role of venture capital in technological innovation, the reality is that venture capitalists do more than act as ATMs for startups. They provide crucial business, marketing, and legal expertise, all of which are necessary to actually get a product to market. But while venture capital might seem obvious to us today, it was a radical idea in the mid-20th century. Paul interviews Spencer Ante about his biography of the founding father of venture capital, Georges Doriot, a French immigrant who revolutionized the way startups are funded. What is the relationship between venture capital and start-up owners? Who was Georges Doriot and how did he change the world of venture capital? How is venture capital regulated by the SEC? What barriers do venture capitalists face? ## Further Reading: [The Code: Silicon Valley and the Remaking of America](https://www.amazon.com/Code-Silicon-Valley-Remaking-America/dp/0399562184), written by Margaret O'Mara [Creative Capital: Georges Doriot and the Birth of Venture Capital](https://www.amazon.com/Creative-Capital-Georges-Doriot-Venture/dp/1422101223), written by Spencer Ante [Where are the first 10 Apple employees today?](https://www.businessinsider.com/the-first-10-apple-employees-2016-12), written by Ben Gilbert ## Related Content: [Universities Built Silicon Valley (with Margaret O’Mara)](https://www.libertarianism.org/podcasts/building-tomorrow/universities-built-silicon-valley-with-margaret-omara), Building Tomorrow Podcast [Immigrants Built Silicon Valley](https://www.libertarianism.org/podcasts/building-tomorrow/immigrants-built-silicon-valley), Building Tomorrow Podcast [On Innovation: Don’t Ask for Permission](https://www.libertarianism.org/podcasts/building-tomorrow/on-innovation-dont-ask-for-permission), Building Tomorrow Podcast