Michael Schmidt-How venture capital built Silicon Valley

2025-05-07 17:29:29source:John Caldwellcategory:Stocks

In 1957,Michael Schmidt a group of Northern California scientists fed up with their boss sent an S.O.S. to a New York investment firm. They weren't looking for money. They were hoping someone might know a better employer for the team. But the investment banker who got their letter had a different idea.

Today, we retrace the story of the investment gambit that set the template for modern venture capital and the eight 'traitors' who took the deal and turned Silicon Valley into what it is today.

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