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Recorded on December 5, 2023, this Authors Meet Critics panel focused on Impunity and Capitalism: the Afterlives of European Financial Crises, 1690-1830 (Cambridge University Press, 2022), by Trevor Jackson, Assistant Professor of History at UC Berkeley. Professor Jackson was joined by Anat Admati, the George G.C. Parker Professor of Finance and Economics at Stanford University Graduate School of Business, and William H. Janeway, Affiliated Member of the Economics Faculty at Cambridge University. The panel was moderated by David Singh Grewal, Professor of Law at UC Berkeley School of Law. Co-sponsored by the Berkeley Economy and Society Initiative (BESI) and the UC Berkeley Department of History, the panel was presented as part of the Social Science Matrix Authors Meet Critics book series, which features lively discussions about recently published books authored by social scientists at UC Berkeley. For each event, the author discusses the key arguments of their book with fellow scholars. About the Book Whose fault are financial crises, and who is responsible for stopping them, or repairing the damage? Impunity and Capitalism develops a new approach to the history of capitalism and inequality by using the concept of impunity to show how financial crises stopped being crimes and became natural disasters. Trevor Jackson examines the legal regulation of capital markets in a period of unprecedented expansion in the complexity of finance ranging from the bankruptcy of Europe's richest man in 1709, to the world's first stock market crash in 1720, to the first Latin American debt crisis in 1825. He shows how, after each crisis, popular anger and improvised policy responses resulted in efforts to create a more just financial capitalism but succeeded only in changing who could act with impunity, and how. Henceforth financial crises came to seem normal and legitimate, caused by impersonal international markets, with the costs borne by domestic populations and nobody in particular at fault. A transcript of this recording is available at https://matrix.berkeley.edu/research-article/impunity-and-capitalism.
In this latest installment, world-famous venture capital investor Bill Janeway joins me to discuss the unicorn bubble and the innovation economy, as well as recount stories from his VC experience. Be sure check out Bill's book, "Doing Capitalism in the Innovation Economy" at the link below!https://www.amazon.com/Doing-Capitalism-Innovation-Economy-Reconfiguring/dp/110847127700:00 - Intro02:26 - Bill's journey in venture capital + funny stories10:25 - Challenges in VC investing20:05 - Ancillary value that VC investors provide to firms27:09 - Unicorn bubble of the 2010's: what makes it different from the previous decade? 35:24 - Will strong private funding continue in tech?37:52 - Breaking down investing in the innovation economy45:51 - The government's role in driving the innovation economy"William H. Janeway has lived a double life of 'theorist-practitioner,' according to the legendary economist Hyman Minsky, who first applied that term to him twenty-five years ago. In his role as 'practitioner,' Bill Janeway has been an active growth equity investor for more than 40 years. He is a senior advisor and managing director of Warburg Pincus, where he has been responsible for building the information technology investment practice, as well as a director of Magnet Systems and O'Reilly Media. As a 'theorist,' he is an affiliated member of the Faculty of Economics of Cambridge University, a member of the board of directors of the Social Science Research Council and the Fields Institute for Research in the Mathematical Sciences, and of the Advisory Board of the Princeton Bendheim Center for Finance. He is a co-founder and member of the Governing Board of the Institute for New Economic Thinking (INET), and a member of the Board of Managers of the Cambridge Endowment for Research in Finance (CERF). Following publication in November 2012, his book Doing Capitalism in the Innovation Economy: Markets Speculation and the State (Cambridge University Press) became a classic. The fully revised and updated second edition, Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State was published in May 2018." (billjaneway.com)
Dr. William H. Janeway joins the Essential Podcast to talk about the innovation economy, the three-player game, good and bad waste, the developing Keynesian consensus, and the contradictory signals coming out of China.
What does it take to commence a successful biotechnology start-up? What risks are involved as a private equity investor? How can one manage and offset the risks of cashflow and company control vis-à-vis founders possessing controlling shareholdings? Hear from Dr William H. Janeway, a private equity giant from Warburg Pincus and University of Cambridge, Faculty of Economics lecturer. This is a recording from a live webinar event that took place on 12th June 2020. Content: During this webinar, Bill discussed the economics of innovation as illustrated by the founding of Life Technologies and resolution of the ‘Biotechnology Paradox’. Bill delved into the risks associated with investing as a private equity investor in this industry and the substantial growth in the number of pharmaceutical and biotechnology IPOs in the US. Format: Opening remarks were provided by Bill. Pre-submitted questions from our audience were then asked and further questions submitted via the online platform ‘Menti’ were welcomed on the topic. This event was organised by CUTEC and CUVCPE societies as part of the ongoing ‘CUTalks by CUTEC’ podcast series. The hosts for the webinar were Shreya Singhal and Shelby Newsad. To find other podcast episodes, visit here: https://cutec.io/cutalks. Follow us @CUTEC, #CUTalks and @CUVCPE on LinkedIn, Twitter and Facebook to find out about future events and podcast episodes.
Bill Janeway stops by to discuss his latest book, "Doing Capitalism in the Innovation Economy." In this fully revised and updated edition, Janeway interweaves his professional experience with political and financial history, giving a lively explanation of how successive technological revolutions have transformed the market economy, and revealing why America may yield leadership of the innovation economy to China. William H. Janeway has lived a double life of “theorist-practitioner,” according to the legendary economist Hyman Minsky, who first applied that term to him twenty-five years ago. In his role as “practitioner,” Bill Janeway has been an active growth equity investor for more than 40 years. He is a senior advisor and managing director of Warburg Pincus, where he has been responsible for building the information technology investment practice, as well as a director of Magnet Systems and O'Reilly Media. As a “theorist," he is an affiliated member of the Faculty of Economics of Cambridge University, a member of the board of directors of the Social Science Research Council and the Fields Institute for Research in the Mathematical Sciences, and of the Advisory Board of the Princeton Bendheim Center for Finance. The Rhodes Center is housed at the Watson Institute for International and Public Affairs at Brown University. You can read or download the transcript of this episode here: [https://drive.google.com/file/d/10ZM9c8yRB12GiwloTW2CwsmfwGAATCTd/view?usp=sharing] Watch Bill's talk at the Watson Institute here: https://youtu.be/fJoY6YJNhLE
Segment 1: Ann Marie Sabath is the author of “What Self-Made Millionaires Do That Most People Don't: 52 Ways to Create Your Own Success”. She is founder of At Ease Inc., a 31-year-old New York-based business consulting firm.Segment 2: William H. Janeway is a Senior Advisor and Managing Director of Warburg Pincus. He is the author of “Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State”.Segment 3: Rachel Strella is the founder of Strella Social Media, www.strellasocialmedia.com, a social media management company serving dozens of clients nationally. She specializes in social media strategy and social media management. Segment 4: Barbara Kahn is the Baker Professor of Marketing at The Wharton School at the University of Pennsylvania. She is working on a new book on “The Shopping Revolution: How Successful Retailers Win Customers in an Era of Endless Disruption”.Segment 5: Drew Barton is the founder and president of Southern Web, an award-winning digital agency specializing in web development and digital marketing solutions. He is also the author of “The Buyer's Guide to Websites".Sponsored by Nextiva and Finagraph.
May 25, 2018 Innovation Economy Dr. William H. Janeway and EPIK Deliberate Digital Michelle Linford
Jan. 4 (Bloomberg) -- Bloomberg View columnist Barry Ritholtz interviews William H. Janeway, Managing Director of Warburg Pincus and author of “Doing Capitalism in the Innovation Economy: Markets Speculation and the State”, published by Cambridge University Press in October 2012. They discuss the history of financial bubbles. This interview aired on Bloomberg Radio.
William H. Janeway CBE, Senior Advisor and Managing Director at Warburg Pincus, gives a talk for the Oxford Martin School. The innovation economy begins with discovery and culminates in speculation. Over some 250 years, economic growth has been driven by successive processes of trial and error: upstream exercises in research and invention and downstream experiments in exploiting the new economic space opened by innovation. Drawing on his professional experiences, William H. Janeway will provide an accessible pathway to appreciate the dynamics of the innovation economy. He will combine personal reflections from a career spanning forty years in venture capital, with the development of an original theory of the role of asset bubbles in financing technological innovation and of the role of the state in playing an enabling role in the innovation process. Today, with the state frozen as an economic actor and access to the public equity markets only open to a minority, the innovation economy is stalled; learning these lessons from this talk will contribute to its renewal.