Sebastian Mallaby is a distinguished journalist and now Senior Fellow in International Economics at the Council on Foreign Relations. Mallaby has contributed to various publications, including Foreign Affairs, The Atlantic, The Washington Post and the Financial Times, where he spent two years as editor. A graduate of Oxford University, he is a two-time Pulitzer Prize finalist and the author of five books, including the most recent, The Power Law: Venture Capital and the Making of the New Future. In this slightly edited Q&A, Mallaby talks about the rise of venture capital in China and its impact on the country’s tech boom. Sebastien Mallaby. Illustration by Lauren Crow Q: Your book argues that China’s digital economy owes its success in part to the introduction of American-style venture capital. In the beginning, what was the opportunity for these venture capitalists in China? What problems did they face and how did they succeed? A: At th
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