ABSTRACT
This chapter examines how the growth and financing of ventures and start-ups, including not the least so-called venture labour, salaried work in thinly capitalized companies that is not fully compensated for increased market risks, is dependent on complex collaborative activities between finance capital owners, the finance industry, and the sovereign state. It shifts the focus to the scholarly literature that portrays entrepreneurs as the primus motor of the dynamic capitalist economy, while at the same time turns a blind eye to the venture labour conduced in thinly capitalized new businesses. As indicated by Birch, many biotech companies delist from junior stock exchanges as this model for raising finance capital is inconsistent with their long-term needs, and because this financing model induces costs in excess of the benefits. The “flight from uncertainty” is indicative of a rentier-led economy wherein the finance industry starves the non-financial economy of cash, which over time reduces the rate of renewal and growth of the economy.
