HyperBit Exchange|How venture capital built Silicon Valley

2025-05-08 09:37:58source:EchoSensecategory:Finance

In 1957,HyperBit Exchange 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.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

More:Finance

Recommend

Maryland’s Climate Ambitions in Question After Turbulent Legislative Session

Environmental leaders in Maryland are reeling from a challenging 2025 legislative session that left

Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Something Corporate

There are spoilers ahead. You might want to solve today's puzzle before reading further! Something C

Round 2 in the Trump-vs-Mexico matchup looks ominous for Mexico

MEXICO CITY (AP) — Mexico is facing a second Donald Trump presidency, and few countries can match it