Venture capital is associated with capital gains. Yet, the formation of new companies, the development of small existing ones, is nothing that anybody go into to make capital gains. That's a flat-footed, definitive statement. If, on the other hand, you feel constructive, if you feel that you want to build, if you believe you want to create, if you believe you want to work extraordinarily hard, if you will go on the theory that you cannot build anything on the basis of forty-hour weeks, then the field or the business or the action of creating, forming new companies, developing new small ones, is of interest. If you do it well, capital gains are a possible reward. But it is certainly idiotic, silly and a waste of time to say: "I want to make capital gains, therefore I will create new companies." Such an attitude will not lead you anywhere. This may be true more generally in life too. Do a job well, and the normal amount of good grace and good luck and the rewards will be monetary gains of which one kind might be capital gains. - George F. Doriot