Economics of Whaling Symposium, The Whaling Industry as the First Venture Capital Business Model in the United States
Friday, August 11, 10 AM - 5 PM Members $25, Non-members $35 | Lectures held at the New Bedford Whaling Museum followed by reception at the Rotch Jones Duff House and Garden Museum.
Co-Sponsored by Rotch-Jones-Duff House and Garden Museum
America’s earliest venture capital business model flourished during the era of whaling in this country: that is the central premise of this one-day symposium. Whale ship owners and agents showed tremendous business acumen by creating an incentive-based pay structure that motivated captains and their crews to optimize profits. Simultaneously, the distribution of risk through syndication allowed for enormous profits despite predictable loses at sea. The Whaling Economics Symposium will convene professors, historians and businessmen to discuss the success of this 19th century American global enterprise and the application of this unique business to modern finance.